The address starting with 0x1111 borrowed more than 2,000 WBTC from Aave through circular lending

Foresight_News · 2023-10-09T09:03:04.000Z

According to Foresight News, according to Lookonchain monitoring, the address starting with 0x1111 uses circular lending, that is, mortgages ETH in Aave to lend out WBTC, then trades WBTC for ETH and repeats the above process, with a total of 44,956 Ethereums (worth approximately US$73.5 million) mortgaged. , lending 2,088 WBTC (worth approximately $58.3 million).

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Foresight_News

According to Foresight News, Lookonchain monitoring shows that the address starting with 0x1111 has used circular lending, that is, pledging ETH in Aave to borrow WBTC, and then trading WBTC for ETH and repeating the above process. In total, 44,956 Ethereum (worth about 73.5 million US dollars) has been pledged and 2,088 WBTC (worth about 58.3 million US dollars) have been borrowed.

WBTC-2.30%

ETH-5.82%

AAVE+0.28%