Circle pushes emergency fix for Aave’s $1.89B USDC pool stuck at 99.8% utilization, proposes drastic yield hikes and oracle pause to fix post-exploit gridlock

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99.8% utilization on a $1.89B pool means withdrawals queue behind borrower repayments — capital's locked in positions by design. Slope 2 hikes force organic unwind while the oracle pause blocks cascading liquidations during the transition. Circle proposing these parameters directly is new territory — during Aave's 2023 CRV situation, Chaos Labs and Gauntlet handled it. A stablecoin issuer wading into another protocol's governance blurs where their responsibility ends.

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Circle pushes emergency fix for Aave’s $1.89B USDC pool stuck at 99.8% utilization, proposes drastic yield hikes and oracle pause to fix post-exploit gridlock

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Circle pushes emergency fix for Aave’s $1.89B USDC pool stuck at 99.8% utilization, proposes drastic yield hikes and oracle pause to fix post-exploit gridlock

More coverage

Explore the topic

More on Exploit

Cascade moves swiftly after $1.3M exploit, collaborates with SEAL 911 and law enforcement to trace attackers

Summer.fi winds down operations after $6.04M Lazy Summer exploit drains team runway

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Summer.fi exploit drains ~$6M as Blockaid links attacker to Lazy Summer contracts

Cascade moves swiftly after $1.3M exploit, collaborates with SEAL 911 and law enforcement to trace attackers

Summer.fi winds down operations after $6.04M Lazy Summer exploit drains team runway

Security researcher Vladimir S. details how organized crypto hacking gangs exploit email, malware, fake support, and wallet approvals to steal millions through scalable social engineering

Supra oracle exploit lets attacker drain $9.05M from Bonzo Lend using zero-signature SAUCE price update

Hedera faces apparent $5.25M exploit as attacker bridges stolen funds to Ethereum

Summer.fi exploit drains ~$6M as Blockaid links attacker to Lazy Summer contracts

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How to Earn