Concerns over the recent Cream Finance attack, which resulted in the theft of $130 million from the protocol, spread to Aave, one of the number one protocols in the decentralized finance (DeFi) space. On Friday, a significant percentage of assets invested in Aave’s V2 money market protocol were withdrawn. One of those who pulled their funds was TRON founder Justin Sun. Here are the details…
TRON founder withdraws billions of dollars worth of coins to his wallet
Data showing Ethereum transactions shows that Justin Sun, the founder of the Tron network, has withdrawn billions of dollars worth of Ethereum (ETH), Wrapped Bitcoin (WBTC), USD Coin (USDC), Tether (USDT), and True USD (TUSD) from Aave. Collectively, these funds represent a value of $15.2 billion according to DefiLlama. This meant approximately 18 percent of the protocol’s Total Locked Value (TVL). As a result, Aave has dropped to third place in the TVL rankings, behind Curve Finance and MakerDAO.
Sun’s withdrawal is thought to be a result of concerns over recent tweets by members of the Yearn community and those on Aave’s side. During a thread of tweets, members of the Yearn community hinted that Aave is vulnerable to potential abuse. cryptocoin.com As we reported, Yearn founder Andre Cronje tweeted on Friday that Aave is also vulnerable to the attack that impacted Cream Finance on Wednesday and resulted in the theft of $130 million in tokens.
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