$AAVE users lost $26 million due to an oracle error…⚠️
A failure in Aave’s oracle system caused the price of wstETH to temporarily appear about 2.85% below its actual market value, which automatically triggered liquidations of collateralized positions. As a result, users lost assets worth around $26 million.
🫠 According to Chaos Labs, the issue occurred due to a desynchronization between the snapshot ratio and timestamp in the CAPO oracle system. Because of this, the oracle formula calculated a price below the real market level, and several positions in the protocol were incorrectly considered undercollateralized.
The incident affected 34 accounts, with liquidations totaling about 10,938 wstETH. The Aave team has already fixed the oracle configuration and temporarily lowered borrowing limits, while about 141 ETH has been recovered to partially compensate affected users.
#TrendingTopic #aave #CryptoNewss #Write2Earn #TradingCommunity
