It appears Justin Sun withdrew $1.7 billion ETH from Aave, spiking borrow rates and triggering a brief stETH depeg across DeFi markets.

Over the past week, large DeFi “whales” withdrew roughly $1.7 billion of ETH from the Aave lending protocol, with on‑chain data and Aave contributor Marc Zeller indicating that wallets linked to Justin Sun accounted for a substantial share of these outflows. Wallets tagged as Sun-related on Arkham reportedly pulled more than $646 million in ETH from Aave in three days, while an HTX‑linked wallet withdrew around $455 million, sharply reducing available ETH liquidity and temporarily pushing Aave’s ETH borrow rates above 10% as utilization spiked.

✨ AI-generated background, compiled from web sources — not editorial content.

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