🚨 UPDATE | HACKER ATTACK ON BINANCE - AAVE SUSPENDS NEW OPERATIONS AS A PRECAUTION
The decentralized finance protocol Aave announced precautionary measures following reports of a security incident involving wallets linked to Binance.
According to a statement published on its official profile, Aave's smart contracts were not affected, and existing positions remain overcollateralized—that is, backed by collateral worth more than the amounts borrowed.
As a security measure, Aave said it had temporarily frozen all markets operated by the DAO on versions V3 and V4.
The restriction prevents new deposits and loans, but users are still allowed to make withdrawals and repay existing loans.
The team said it will continue monitoring the situation and plans to resume operations as soon as it is safe to do so.
Please note: this measure does not mean that Aave was hacked. It is a precautionary action to reduce risks while the incident involving Binance is investigated.
We will continue to follow developments. 🥷👊
The decentralized finance protocol Aave announced precautionary measures following reports of a security incident involving wallets linked to Binance.
According to a statement published on its official profile, Aave's smart contracts were not affected, and existing positions remain overcollateralized—that is, backed by collateral worth more than the amounts borrowed.
As a security measure, Aave said it had temporarily frozen all markets operated by the DAO on versions V3 and V4.
The restriction prevents new deposits and loans, but users are still allowed to make withdrawals and repay existing loans.
The team said it will continue monitoring the situation and plans to resume operations as soon as it is safe to do so.
Please note: this measure does not mean that Aave was hacked. It is a precautionary action to reduce risks while the incident involving Binance is investigated.
We will continue to follow developments. 🥷👊
