Justin Sun Removes $4.2 Billion Cryptocurrency From Aave Pool!

Some discussions about the vulnerability of DeFi lending platform Aave to a potential attack made Jutin Sun nervous.

Tron founder Justin Sun recently pulled billions of dollars worth of cryptocurrencies from Aave pools. It is considered that the security debates had an impact on Sun’s move.

Interest rates soared as significant withdrawals of cryptocurrencies from the platform caused a severe lack of liquidity.

“Aave is vulnerable to similar exploits,” Yearn founder Andre Cronje tweeted today, citing the Cream Finance hack as an example. said.

While the Yearn team was discussing the vulnerabilities in Aave on Twitter, Aave’s founder Stani Kulechov asked for support by sending a message of unity and solidarity.

“Let’s work together, support each other, and most importantly, win together.”

As the discussions continued, Aave acknowledged that there were some concerns about the use of SUSHI as collateral in the Aave protocol. Aave said it will take precautions against possible exploits and may disable SUSHI-related functions.

AAVE, which was trading at $460 prior to the news, fell 30% to $330.

Chinese journalist Colin Wu stated that the total value of the cryptocurrencies Sun withdraws from the platform is $ 4.2 billion.

“According to the data, Justin Sun bought back $45 million TUSD, $190 million USDT, 11,000 WBTC, $1.2 billion USDC and $490,000 worth of ETH.”

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