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28 Fear

Binance Hack and Aave Market Freeze Discussed on Unchained

Original title: Should Anyone Be Able to Deposit $1B and Borrow All the ETH in One Block? - Uneasy Money

Unchained 1:17:51 1 views on YouTube AAVE −0.9% ETH −7.8% SNX −8.3%

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Summary

The Unchained podcast discusses a six billion dollar Binance hack involving North Korean hackers, where Tether and Circle froze stablecoins within minutes. LlamaRisk CEO Adam Sadowski joins hosts Kain Warwick and Taylor Monahan to discuss the market freeze, how the hacker routed sixty million dollars in USDT through Aave to borrow ETH, and why nothing was ultimately taken from the Aave protocol. The discussion also covers Aave's four-of-seven guardian multisig, an AI model that helped Synthetix recover nine million stolen SNX, and THORChain processing nearly two hundred million dollars for North Korea despite an FBI callout.

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Key points

  1. North Korean hackers pulled roughly six billion dollars out of Binance, prompting Tether and Circle to freeze stablecoins within minutes.
  2. Adam Sadowski, CEO of LlamaRisk, explained why nothing was stolen from Aave after hackers routed sixty million dollars in USDT through the protocol to borrow ETH.
  3. An AI model helped Synthetix recover nine million stolen SNX tokens.
  4. THORChain processed nearly two hundred million dollars for North Korea despite an FBI callout.

Questions

Who joined the Unchained podcast to discuss the Binance hack?
Adam Sadowski, CEO of LlamaRisk, joined hosts Kain Warwick and Taylor Monahan.
How much SNX did Synthetix recover with the help of an AI model?
Synthetix recovered nine million stolen SNX.

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