🚨 $17M Lost in Liquity v2: Is Your Crypto Safe? 🚨
Oh, the humanity! 🤣 In a world where our savings can be lost in a split second, we must be vigilant. Ethereum-based decentralized borrowing protocol Liquity recorded a staggering $17 million in outflows in just 24 hours. 🤯
It all started when Liquity announced that it was running an investigation on its v2 earn pools for a “potential issue.” 🤔 But don’t worry, they assured us that all trade operations remain unaffected. Or so they claim… 😉
“The protocol continues to work as expected, and to the team’s knowledge, the potential issue has not impacted any users.”
Taking preemptive measures to avoid loss of funds
But, dear reader, don’t be too confident. Liquity protocol asked users to close their positions on v2 “out of an abundance of caution.” 🤷♀️ And investors, beware of those scammers! 🚫
“Liquity V2 is fully permissionless, and the Liquity team does not maintain any administrative roles over the Liquity protocol. It is each user’s own responsibility to take appropriate actions when interacting with the Liquity protocol.”
So, what happened? 🤔 Liquity v2 lost over $17 million in outflows, according to DefiLlama data. 📊 And the total value locked (TVL) on Liquity v2 (LQTY) dropped 18% to $69.6 million from its all-time high of $84.9 million on Feb. 11. 💸
But don’t worry, Liquity v1 is still standing tall, unaffected by the chaos. 🌊 Still, we can’t help but wonder… will our crypto be safe? 🤔
The Liquity v2 pool comprises three tokens — Rocket Pool ETH (RETH), Wrapped Ether (WETH) and Wrapped Lido Staked Ether (WSTETH). 🤝 Out of the lot, WSTETH outflows amounted to about $11.3 million, while RETH and WETH contributed $1.2 million and $4.5 million, respectively, in outflows. 💸
Ethereum-based liquid staking platform Lido also notified wstETH holders to withdraw their investments from Liquity v2 Stability Pool (“Earn”). 🚨
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2025-02-13 12:09