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Hacker Used Aave to Bypass Freezes
Hacker deposits stolen USDT into Aave to borrow ETH, bypassing Tether's $1.5B and Circle's $800M stablecoin freezes.
Key points
- Tether froze $1.5 billion in stolen USDT and Circle froze $800 million in USDC, according to @BalaiBB.
- @BalaiBB said the hacker deposited the stolen USDT on Aave, borrowed ETH against it, and walked away.
- @BalaiBB said USDT can be frozen while ETH cannot.
Key points and the reaction summary are written by AI from the posts on this page. Check the original post. How we use AI
Original post
the binance hacker just did something genius and it should scare you
tether froze $1.5 billion in stolen USDT. circle froze $800 million in USDC. everyone's celebrating like the problem is solved
meanwhile the hacker deposited the stolen USDT on aave, borrowed ETH against it, and walked away. because USDT can be frozen. ETH can't
he's never paying it back. he doesn't need to
tether and circle just proved they can freeze billions in seconds. and the hacker just proved that if you know how defi actually works, none of that matters
the freeze saved some of the money. but the smartest money was already gone before anyone pressed the button
Top replies on X
Reaction on X: Replies are mostly jokes, with one calling crypto the only industry where a hacker can steal your money and try to borrow it too. Some replies question the point of crypto if funds can be frozen. No response from the original poster.
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From @Fityeth, @JF_Stanley, @bebeto84395883 and others. Spam removed, with English and Chinese translations.
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