Cryptocurrency

"Alameda liquidators get liquidated on Aave as they try to consolidate funds"

2023-01-12 [vendor] FTX liquidators get liquidated [chain] ethereum
Primary Source ↗
Blockchain(s) Ethereum

Incident Details

As they tried to close an Alameda position on the Aave defi lending project, liquidators in charge of recovering customer funds lost $72,000 due to an error in their approach. The liquidators first removed extra collateral that was supporting the position, which resulted in two liquidations in nine days. The total loss was 4.05 aWBTC, which is priced at around $75,000 based on prices at the time of the transactions.This SNAFU unfortunately means that those assets won’t be available to be repaid to FTX customers, although this loss is relatively small compared to the total amount owed.

Technical Details

Vendor / Product
FTX liquidators get liquidated

Timeline

  1. 2023-01-12 Breach occurred
  2. 2023-01-12 Publicly disclosed