Aave Guardian freezes $136.5M in tBTC reserves on Ethereum Core
CIE News ·
Based on reporting by The Defiant; not yet independently confirmed.
Aave's guardian multisig froze approximately 1,770 tBTC on the V3 Ethereum Core market, disabling new borrows and supply after Threshold halted minting and redemptions, according to The Defiant.
Aave's guardian multisig executed an emergency freeze on approximately 1,770 tBTC reserves, valued at roughly $136.5 million, in the V3 Ethereum Core lending market, according to The Defiant. The action followed a decision by Threshold to halt minting and Bitcoin (BTC) redemptions. Risk manager LlamaRisk set the maximum loan-to-value ratio for tBTC to 0% while maintaining a 78% liquidation threshold. New supply and borrowing against tBTC are now disabled, though existing users may still perform repayments, withdrawals, and liquidations.
Key facts
- 1,770 tBTC frozen
- Valued at roughly $136.5M
- LTV reduced to 0%
- 78% liquidation threshold
Read the original at The Defiant