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 The total amount of assets withdrawn from Aave was $ 4.2 billion.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.

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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.”

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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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