Aquarius Loan Hack: Core DAO Urges Users to Remain Vigilant in the Web3 Space

More Caution During Web3 Interaction 

Aquarius Loan, the first decentralized lending protocol granted by the Core DAO layer one blockchain, made headlines on August 9 for a less favorable reason: a hack resulting in a loss of $250K.

In an unsettling development, Aquarius Loan's lending pool was compromised. The hackers drained liquidity using an exploit focused on the protocol’s deprecated aUSDT token. This left some users in a difficult situation, unable to access any liquidity for a brief duration.

Swiftly reacting to this breach, the protocol immediately halted all its activities. And while things are back up and running, Core DAO has sounded an alert. Given the intricacies of the Web3 environment, they've cautioned users to refrain from engaging with the protocol momentarily. The Satoshi Plus-backed project also recommended users research properly when interacting with Web3 projects, given its permissionless and open nature.  

"Aquarius informed us that they fixed the problem and already introduced new liquidity into the protocol to cover all user deposits. However, it’s strongly recommended to avoid interacting with this protocol for the time being,” shared Core DAO in a tweet.

On a brighter note, the Layer One blockchain clarified that the hack didn't affect any Decentralized Application building on the Core ecosystem. With unwavering commitment, the Aquarius Loan team is now channeling its efforts to retrieve the misplaced funds and track down the culprit, all while upholding its promise of transparency and user safety.

What is Core DAO:

Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem's history and an even greater excitement for Core’s role in its future.

Where to find Core DAO:

Website | Docs | Twitter | Discord

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