Aave Suspends Some Operations Due to a Vulnerability

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After discovering a vulnerability, the Aave DeFi protocol has temporarily suspended some operations.

However, user funds are safe and preventive measures have been taken to protect against potential exploitation.

Aave V2 Ethereum and certain assets on Avalanche have been suspended, while Aave V3 assets on Polygon, Arbitrum, and Optimism have been frozen.

The suspension and freezing of assets aim to prevent any malicious actions and protect user funds.

A proposal to restore normal operation will be published soon, and more information about the vulnerability will be disclosed after it is fixed.

Despite this incident, AAVE has only seen a minor decrease in value and the native DeFi protocol token is currently trading at $90.

In July, Aave successfully deployed the decentralized stablecoin GHO on the Ethereum main network with full support from the community.