Justin Sun hastily pulls more than $ 4 billion as the war of words between Aave and Yearn Finance takes over Twitter
Community members Aave and Yearn Finance are currently arguing on Twitter over the Cream Finance hack that caused $ 130 million in damage.
As reported by Cointelegraph, Cream Finance, an Ethereum-based credit protocol, was hacked earlier this week for the third time this year, with losses of up to $ 130 million. Now people are starting to blame each other.
CREAM price after the incident. Source: TradingView
In an article on Thursday, DeFi specialist publication Rekt suggested that Yearn Finance, an ever-growing set of decentralized credit and trading protocols, began integrating with Cream shortly after the merger with Cream last year, responsible for:
“Yearn Finance’s monopoly on decentralized space is too extensive and the operators are too careless. Why pile up so many logs if you don’t care about their users? ”
The war stage is spreading on Twitter, which is overflowing with famous Aave contributors.
What does all of this have to do with Aave, a lending protocol that is completely different from similar services?
Yearn Finance and Cream Finance, split off from Compound, are linked by two development teams and integrated joint projects such as Iron Bank. In the meantime, some members of the Aave community are suspicious of the developers at Yearn if they diverge Aave for their own purposes. When then details Regarding the announced $ 130 million hack, some Aave community members took the opportunity to criticize Yearn instead of Cream, a platform with a wide reach.
Banteg, one of the most prominent Yearn developers, has dealt with it. Brothers tweets:
“Perhaps it is not advisable to talk badly about other projects while sitting in the eleven-digit gap.”
Yearn founder Andre Cronje also spoke up later:
“Aave has been participating in Yearn’s 24-hour libel marathon for the past 24 hours for hacking Cream while Aave was also vulnerable to the same attack.”
However, the information about the vulnerability was not made public. It was the way the Soviet Union and Americans exchanged information through indirect communication channels during the Cold War. If such a vulnerability persists and occurs, it would put Aave at risk. The users of the protocol are currently voting on an administrative proposal to temporarily freeze or disable features that could lead to the same vulnerability as Cream. It is suggested that these measures be described as “precautionary”.
Stani Kulechov, founder of Aave, says he doesn’t see any discord between the two projects. “We build up together, but it always becomes difficult when everyone only cares about their own community.”
Due to the constant attacks of the year, the CREAM token could not rise to the top in the DeFi area. It’s worth noting that while the “keyboard heroes” in the DeFi space are often not the culprits, there is still controversy about who is to blame.
Trons sold to Justin Sun
The above back and forth likely caused Tron founder Justin Sun to withdraw billions of dollars in crypto from Aave’s liquidity today. Sun’s move resulted in a large amount of liquidity leaving the platform while interest rates skyrocketed.
Looks like a stable bank run from @AaveAave v2
Most of all thanks @justinsuntron???? pic.twitter.com/CXSQeB30mB
– Igor Igamberdiev (@FrankResearcher) October 29, 2021
follow statistical, Justin Sun has raised approximately $ 4.2 billion in total, including $ 45 million, USDT 190 million, $ 11,000 WBTC, $ 1.2 billion, and $ 490,000 WETH.
AAve is considering precautions
Following the Twitter post, Aave admitted that there were concerns about the potential for exploits when xSUSHI was used as a security in the Aave protocol. It’s not clear if this is the same vulnerability that the developers at Yearn are hinting at.
Aave claims to have run simulations that show that any attacker who tries this mining approach will lose money. Even so, Aave highlighted a suggestion made to disable xSUSHI-related features as a pre-test.
Aave token holders can now poll for suggestions about its governance platform.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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Justin Sun hastily pulls more than $ 4 billion as the war of words between Aave and Yearn Finance takes over Twitter
Community members Aave and Yearn Finance are currently arguing on Twitter over the Cream Finance hack that caused $ 130 million in damage.
As reported by Cointelegraph, Cream Finance, an Ethereum-based credit protocol, was hacked earlier this week for the third time this year, with losses of up to $ 130 million. Now people are starting to blame each other.
CREAM price after the incident. Source: TradingView
In an article on Thursday, DeFi specialist publication Rekt suggested that Yearn Finance, an ever-growing set of decentralized credit and trading protocols, began integrating with Cream shortly after the merger with Cream last year, responsible for:
“Yearn Finance’s monopoly on decentralized space is too extensive and the operators are too careless. Why pile up so many logs if you don’t care about their users? ”
The war stage is spreading on Twitter, which is overflowing with famous Aave contributors.
What does all of this have to do with Aave, a lending protocol that is completely different from similar services?
Yearn Finance and Cream Finance, split off from Compound, are linked by two development teams and integrated joint projects such as Iron Bank. In the meantime, some members of the Aave community are suspicious of the developers at Yearn if they diverge Aave for their own purposes. When then details Regarding the announced $ 130 million hack, some Aave community members took the opportunity to criticize Yearn instead of Cream, a platform with a wide reach.
Banteg, one of the most prominent Yearn developers, has dealt with it. Brothers tweets:
“Perhaps it is not advisable to talk badly about other projects while sitting in the eleven-digit gap.”
Yearn founder Andre Cronje also spoke up later:
“Aave has been participating in Yearn’s 24-hour libel marathon for the past 24 hours for hacking Cream while Aave was also vulnerable to the same attack.”
However, the information about the vulnerability was not made public. It was the way the Soviet Union and Americans exchanged information through indirect communication channels during the Cold War. If such a vulnerability persists and occurs, it would put Aave at risk. The users of the protocol are currently voting on an administrative proposal to temporarily freeze or disable features that could lead to the same vulnerability as Cream. It is suggested that these measures be described as “precautionary”.
Stani Kulechov, founder of Aave, says he doesn’t see any discord between the two projects. “We build up together, but it always becomes difficult when everyone only cares about their own community.”
Due to the constant attacks of the year, the CREAM token could not rise to the top in the DeFi area. It’s worth noting that while the “keyboard heroes” in the DeFi space are often not the culprits, there is still controversy about who is to blame.
Trons sold to Justin Sun
The above back and forth likely caused Tron founder Justin Sun to withdraw billions of dollars in crypto from Aave’s liquidity today. Sun’s move resulted in a large amount of liquidity leaving the platform while interest rates skyrocketed.
Looks like a stable bank run from @AaveAave v2
Most of all thanks @justinsuntron???? pic.twitter.com/CXSQeB30mB
– Igor Igamberdiev (@FrankResearcher) October 29, 2021
follow statistical, Justin Sun has raised approximately $ 4.2 billion in total, including $ 45 million, USDT 190 million, $ 11,000 WBTC, $ 1.2 billion, and $ 490,000 WETH.
AAve is considering precautions
Following the Twitter post, Aave admitted that there were concerns about the potential for exploits when xSUSHI was used as a security in the Aave protocol. It’s not clear if this is the same vulnerability that the developers at Yearn are hinting at.
Aave claims to have run simulations that show that any attacker who tries this mining approach will lose money. Even so, Aave highlighted a suggestion made to disable xSUSHI-related features as a pre-test.
Aave token holders can now poll for suggestions about its governance platform.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
At home at home
After decryption
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