Aave temporarily freezes V3 and V4 all DAO markets due to a Binance-linked security incident
BIBIBI
AT A GLANCE
Aave temporarily suspended new deposits and borrowing in V3 and V4 all DAO markets due to a possible security incident involving Binance-linked wallets.
Article
Aave: Temporarily freezes V3 and V4 all DAO markets due to the Binance incident
PANews October 30 reported that Aave posted on X saying it was aware of reports that Binance-linked wallets may have experienced a security incident. Aave contracts were not affected, and all positions remain overcollateralized. As a precaution, Aave V3 and V4 all markets operated by DAO have been frozen, with new deposits and borrowing suspended. Users can still withdraw assets and repay existing positions. Aave founder Stani Kulechov said the team is closely monitoring developments and will unfreeze the markets as soon as feasible. Previously, an address linked to the suspected Binance theft deposited approximately 60000000 units of USDT and borrowed 19762 units of ETH。
Aave posted on X saying it was aware of reports that Binance-linked wallets may have experienced a security incident.
02
Aave said its contracts were not affected and that all positions remain overcollateralized.
03
Aave V3 and V4 all markets operated by DAO have been frozen, with new deposits and borrowing suspended.
04
Users can still withdraw assets and repay existing positions.
05
Stani Kulechov said the team is closely monitoring developments and will unfreeze the markets as soon as feasible.
06
The report said that an address linked to the suspected Binance theft had deposited approximately 60000000 units of USDT and borrowed 19762 units of ETH。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This freeze is a precautionary measure: the relevant markets temporarily do not accept new deposits or borrowing, but users can still withdraw assets or repay existing positions. Aave said its contracts were not affected.
Why it matters to readers
The freeze directly restricted new deposits and borrowing in Aave V3 and V4 all markets operated by DAO; meanwhile, the linked address mentioned in the report held substantial USDT deposits and ETH borrowing positions.
Users of the relevant Aave markets should note that new deposits and borrowing have been suspended, while the report explicitly states that withdrawals and repayment remain available.
Risks and unknowns
It has not been confirmed whether Binance-linked wallets actually experienced a security incident; the original text uses the terms “possible” and “suspected.”
The report did not specify the timing or conditions for unfreezing the markets.
The report did not explain how the linked address’s approximately 60000000 unit deposits and USDT borrowings of 19762 units ETH would subsequently be handled.
Aave’s statements that its contracts were not affected and that positions were overcollateralized came from its own post.
Related Developments
Loading event timeline…
Related concepts
Aave V3
This term is not in the glossary yet. Browse related concepts in the glossary.
