Cointime

  • BTC $16272.84 0.07 %
  • ETH $1184.02 0.19 %
  • BCH $111.50 -0.09 %
  • SOL $13.51 -0.22 %
  • XRP $0.39 -0.15 %
  • BNB $295.90 -0.34 %

Mango Markets Exploiter Gets Liquidated After Roiling Aave Using $20M of Borrowed Curve Tokens

1 min read Original Link

A well-known crypto trader linked to last month’s $114 million Mango Markets exploit is at it again – but this time appears to have gotten hung up.

Eisenberg borrowed the majority of CRV tokens on Aave by pledging $40 million in USDC stablecoin as collateral. He then sent the 40 million CRV to crypto exchange OKEx in two transactions – possibly putting the tokens in position for a quick sale, which appeared to be building up a CRV short position – that is, to profit off a price decline.

In the end, all of Eisenberg’s CRV loan was liquidated, leaving Aave with $1.6 million of bad debt, according to blockchain data by Blockanalitica. The amount is insignificant relative to the $6 billion total value locked on the protocol.

All Comments