coindesk.com
Thursday’s crypto exploit related to decentralized-finance (DeFi) giants Yearn and Aave came with an unusual twist: some users actually made money, instead of losing it.
The reason, Aave integrations lead Marc Zeller says, is because the exploiter paid back Aave users’ $USDT debts as part of the flash loan heist. CoinDesk estimates they recouped over $350,000 whereas the exploiter – who repaid every $USDT position on Aave V1 in a flash loan – cashed out millions of dollars in stablecoins before converting to ETH and transferring funds to Tornado Cash.
On April 12, the day before the exploit, 27% of the total $USDT pool was loaned out, but at presstime the amount of $USDT borrowed on Aave’s V1 protocol now stands at $0.00. Roughly $1.31 million $USDT is available for liquidity, according to the website for Aave’s V1 $USDT market.
Today’s hack is the second time an exploit involved a positive aspect. Euler Finance, which originally suffered a $200 million hack, not only recovered the majority of the funds but opened up redemptions to let users withdraw their money.