How the Binance Hacker Outsmarted Stablecoin Freezes
Photo: Coindoo
Key Takeaways Attacker borrowed about 19,762 ETH against USDT. Borrowing came 41 minutes before Aave’s freeze. $59.9M collateral still backs $43.8M of debt. Freeze also pinched ordinary Aave borrowers. TRM Labs’ investigation traced the Aave position to an attacker-linked wallet that supplied 60 million USDT as collateral, alongside separate stablecoin sales to market makers. Why borrow instead of sell Stolen stablecoins carry a built-in risk for a thief: their issuers can freeze them.
Source: Coindoo
