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Design Flaw Left Aave With $1.7M in Bad Debt

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An unidentified trader, believed to be Mango Markets exploiter Avraham Eisenberg, accumulated a roughly 92 million token loan of CRV, the native token of Curve Finance, over a period of six days. But rather than pay back the loan, the trader allowed a total of about $63.6 million in USDC collateral to be liquidated, Tuesday. Assets on Aave each have a liquidation threshold — a percentage at which a loan will be considered undercollateralized if reached. (Blockworks)

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