CORE
by BSCN
August 11, 2023
The recent hack exposes Web3 frailties as Core DAO advises users to remain vigilant when interacting with any protocol.
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.
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.
Website | Docs | Twitter | Discord
Latest News
3h : 23m ago
Everything We Know About OpenSea's New SEA Token
5h : 53m ago
Story Protocol & The IP Token: Deepdive
6h : 38m ago
What is BNB Chain? The Ultimate L1
9h : 53m ago
Six Charged in a Crypto Kidnapping Case in Chicago—What Happened
12h : 23m ago
Everything We Know About Pi Coin Exchange Listings
12h : 38m ago
Core Foundation and Aethir’s $100M Ecosystem Fund: Key Details
14h : 53m ago
Ethereum ETFs Could Soon Offer Staking Rewards: Details
February 12, 2025
What is Quai Network and What Makes it Special?