🔥 Aave announces continued freezing of both rsETH and $WETH
🖤 $rsETH on Ethereum will be backed by underlying assets
🖤 Continued freezing of $rsETH on V3 and V4 -> cannot deposit or use as collateral to borrow
🖤 Freezing reserves of $WETH on Ethereum, Arbitrum, Base, Mantle, and Linea
-> Estimated bad debt creation of ~$177M – $200M in the $WETH pool on V3
~$5B is stuck and over $5.4B $ETH has been withdrawn due to panic -> utilization rate has risen
This hack is much more intense than previous DeFi hacks 🥶
Dowtrend while getting hacked like this $AAVE
@HCCapital_Channel
🖤 $rsETH on Ethereum will be backed by underlying assets
🖤 Continued freezing of $rsETH on V3 and V4 -> cannot deposit or use as collateral to borrow
🖤 Freezing reserves of $WETH on Ethereum, Arbitrum, Base, Mantle, and Linea
-> Estimated bad debt creation of ~$177M – $200M in the $WETH pool on V3
~$5B is stuck and over $5.4B $ETH has been withdrawn due to panic -> utilization rate has risen
This hack is much more intense than previous DeFi hacks 🥶
Dowtrend while getting hacked like this $AAVE
@HCCapital_Channel
