the binance hacker used Aave to turn $60M in stolen USDT into $44.6M worth of ETH before the stablecoin freeze. 👀 here's what happened. a wallet linked to the exploiter deposited $60M in USDT into Aave between 20:58 and 21:01 UTC on October 29. using that deposit as collateral, the wallet borrowed 19,762 WETH, worth approximately $44.6M at the time. the timing matters. Tether and Circle can blacklist addresses holding their stablecoins, but $ETH doesn't have a central issuer that can freeze individual balances. by moving USDT into Aave and borrowing ETH before the freeze measures took effect, the attacker converted part of the exposed stablecoin position into an asset that was harder to freeze. but there's an important detail: this wasn't an exploit of Aave's smart contracts. the attacker used its normal lending functionality. Aave subsequently froze reserves across its V3 and V4 markets to prevent further activity involving the exploiter. its risk team reported approximately $59.9M in collateral against $43.8M in debt, with no immediate risk to suppliers. the attacker still has outstanding debt, and the USDT collateral remains subject to the protocol's restrictions and potential liquidation. the bigger lesson is that freezing stolen stablecoins is only one part of recovery. once assets move through DeFi and are converted into $ETH or other non-freezable tokens, tracing and recovering them becomes much harder. #BTC Price Analysis# #Bitcoin Price Prediction: What is Bitcoins next move?# #Ethereum $BTC