$ETH $BTC is currently struggling at the resistance level of ETH 2.5k, BTC 81k. The dominance is quite tense, and altcoins are looking weak. Right now, a bounce is a signal to short.
Once again, North Korean hacker Lazarus has been named, this time mainly due to KelpDAO using only 1/1 DVN while the recommendation from L0 is 2/2 DVN.
The hackers conducted a combined RPC attack and DDOS to deceive DVN; since there was only 1/1 DVN, the hackers successfully minted 116500 rsETH on the ETH network.
Currently, L0 has changed all affected RPCs and DVN is operating normally.
L0 blames the North Korean hackers and KelpDAO, while Aave remains silent without any further announcements😂
At this time, liquidity in Defi has been heavily withdrawn, so everyone should switch to safety mode, as leaving money on defi could lead to being stuck and unable to do anything, which would be unfortunate😳 source: #hcgem
😱 The Dev team $M is creating such a beautiful chart, yet .... still being called out by ZachXBT to stand alongside $RAVE, $MYX, $COAI..., is it time to go big short now, guys :))) I was the model beforehand :))
🔥 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~$5B is stuck and over $5.4B $ETH has been withdrawn due to panic -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