{"id":12977,"date":"2021-10-29T19:27:29","date_gmt":"2021-10-29T18:27:29","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=12977"},"modified":"2021-10-29T19:27:38","modified_gmt":"2021-10-29T18:27:38","slug":"justin-sun-reportedly-withdraws-billions-of-dollars-in-cryptocurrency-out-of-aaves-lending-pools","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/justin-sun-reportedly-withdraws-billions-of-dollars-in-cryptocurrency-out-of-aaves-lending-pools\/","title":{"rendered":"Justin Sun reportedly withdraws\u00a0billions of dollars in cryptocurrency out of Aave’s lending pools"},"content":{"rendered":"\n
According to blockchain data, Tron creator Justin Sun has taken billions of dollars in crypto from the lending pools of DeFi <\/a>lending platform Aave. As a result, the platform has lost a considerable amount of liquidity, resulting in much higher interest rates.<\/h5>\n\n\n\n
\"Justin<\/figure>\n\n\n\n

Concerns regarding recent tweets between members of the Yearn community and those in the Aave\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> camp may have prompted the withdrawals. Members of the Yearn community suggested that Aave was vulnerable to a potential exploit during a Twitter debate.<\/p>\n\n\n\n

Yearn<\/a> founder Andre Cronje said early Friday that “Aave is vulnerable to the same vulnerability” that hit Cream Finance on Wednesday, resulting in the theft of $130 million in tokens.<\/p>\n\n\n\n

Yearn core developer banteg wrote, “Perhaps don't badmouth other programs while sitting on an 11 figure vulnerability.” Later, Banteg stated that he believes the exploit has extremely strict liquidity needs and that it was previously achievable for 160 days but is no longer practical.<\/p>\n\n\n\n

Following the revelations and the ensuing backlash, Aave founder Stani Kulechov tweeted that the crypto community should unite. He commented, “Let's work together, encourage one another, and most importantly, win together.”<\/p>\n\n\n\n

Following the Twitter squabble, Aave stated that there were worries about a potential exploit when xSUSHI <\/a>is used as collateral in the Aave protocol. It's unclear if this is the same flaw that the Yearn devs mentioned.<\/p>\n\n\n\n

According to Aave, simulations demonstrated that any attackers who tried this exploit approach would lose money. Despite this, Aave has called attention to a suggestion to disable xSUSHI-related functions as a precautionary step.<\/p>\n\n\n\n

Aave token <\/a>holders can now vote on the proposal via the Aave governance platform.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

According to blockchain data, Tron creator Justin Sun has taken billions of dollars in crypto from the lending pools of DeFi lending platform Aave. As a result, the platform has lost a considerable amount of liquidity, resulting in much higher interest rates. Concerns regarding recent tweets between members of the Yearn community and those in […]<\/p>\n","protected":false},"author":13,"featured_media":12978,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1104,5291],"class_list":["post-12977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-aave","tag-justin-sun"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/10\/image-160.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/12977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=12977"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/12977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/12978"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=12977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=12977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=12977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}