Aave’s Risk Manager Wants a Borrowing Speed Limit After Binance Hackers Took $44.6 Million
By Unchained
AI summary of the source article
Aave risk manager LlamaRisk is developing limits on borrowing volume over set timeframes. The measure follows an incident where a Binance hot-wallet exploiter borrowed about $44.6 million in ether against 60 million USDT within three minutes.
Why it matters
LlamaRisk CEO Adam Sadowski argued manual signers must yield to automation because "we're having AI agents that are scanning for exploit opportunities and taking advantage of them."
Key facts
- LlamaRisk is developing risk oracles to limit borrowing capabilities on Aave over specific time periods.
- A wallet linked to the Binance hot-wallet hack drew 19,762 WETH (about $44.6 million) against 60 million USDT on Oct. 29.
- Aave guardians froze markets roughly 40 minutes after the borrowing, and the Ethereum Core market reopened with USDT and USDC loan-to-value ratios at zero.
Source excerpt · Unchained
CEO Adam Sadowski said LlamaRisk will cap what can be borrowed on Aave over certain periods of time, six days after a wallet tied to the Binance hack drew a $44.6 million ETH loan from the lender. The post Aave’s Risk Manager Wants a Borrowing Speed Limit After Binance Hackers Took $44.6 Million appeared first on Unchained .