Justin Sun Withdraws $ 4.2 Billion From DeFi Aave Protocol

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Tron founder Justin Sun withdrew $ 4.2 billion from the popular DeFi Aave protocol, which is 18% of the total number of assets blocked in the protocol.

According to Etherscan, Justin Sun withdrew $ 45 million in TUSD, $ 190 million in USDT, 11,000 “wrapped bitcoins” in WBTC, $ 1.2 billion in USDC and $ 490,000 in WETH. The total amount of assets withdrawn from Aave was $ 4.2 billion. After such a large-scale withdrawal of funds, the protocol dropped to the third line in terms of blocked assets.

The founder of Tron did not comment on this move, but it is likely that he decided to protect his assets from a possible Aave hack. Recall that the DeFi Cream Finance protocol was recently hacked – hackers managed to withdraw assets worth $ 110 million. Some experts said that a similar attack could be carried out on Aave using xSUSHI tokens.

By data of the Gauntlet Network, in the case of Aave, such a hack is not feasible. However, despite this, a proposal was issued to “disable the issuance of loans in xSUSHI, DPI and LP in order to eliminate possible risks in the future.”

Recall that at the beginning of the month, the Aave developers added support for the Avalanche blockchain. This is the third network supported by the project.

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