LlamaRisk's Adam Sadowski on why Aave froze markets after the Binance hack, even though nothing was stolen from it "There's nuance to the situation that I think a lot of people…
Laura Shin Published: 2026-11-04 21:48 UTC Collected: 2026-11-04 23:12 UTC Original language: Not supplied by source
LlamaRisk's Adam Sadowski on why Aave froze markets after the Binance hack, even though nothing was stolen from it
"There's nuance to the situation that I think a lot of people are missing. They hear…
LlamaRisk's Adam Sadowski on why Aave froze markets after the Binance hack, even though nothing was stolen from it
"There's nuance to the situation that I think a lot of people are missing. They hear Aave is associated in some way. Does this mean Aave had funds stolen from it? And the answer is a resounding no."
"There was nothing that was stolen from Aave. The protocol itself worked as it was intended, which is that users can supply collateral and create an over-collateralized loan, maintaining the solvency of the protocol, so suppliers to the lending market can always withdraw their money."
"What we're concerned about is that Aave doesn't wanna have stolen funds on its books, although it's not actually interfering with the protocol operation in any way. So that's why we needed to take action."
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Taylor on the $30M bank hack that was traced, but couldn't be frozen because no victim came forward "The bank got hacked. They apparently stole the money out of the accounts at the bank and put them in new bank accounts somewhere else. Then from those bank accounts, they purchase
Kain and Taylor question how Circle, once slow to freeze funds, froze Binance hack funds 3 minutes after Tether Taylor: "Tether is the best. But even Circle stepped up this time." Adam: "Circle got their freeze in just three minutes after Tether." Kain: "Can someone explain that
"When Aave executes a market freeze, that means that no one can borrow additional money from the market and no one can supply additional money into the market," @WormholeOracle on Aave's reaction to the Binance hack
