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Morning Edition · Saturday, October 31, 2026Published at 1:43 AM EDT · New York
Aave reopens markets it froze after the Binance attacker borrowed 19,762 wrapped ether against stolen USDT
LlamaRisk kept nine assets held by the attacker's addresses, including USDT and USDC, at zero borrowing power and cut idle borrowing capacity on Aave V3 by about $3.7 billion.
On October 29, the Binance attacker deposited $60 million of Tether's USDT into Aave V3. The attacker then borrowed 19,762 wrapped ether (WETH) against it before Aave's emergency limits took effect. The trade worked because deposited USDT s…
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DeFi Lenders Price Freeze Risk
As stablecoin issuers freeze addresses tied to large thefts and sanctions, decentralized lenders will keep treating centrally freezable assets as a separate collateral risk, using emergency borrowing limits and address-level restrictions that make their governance a target for enforcement requests.
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