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AngleProtocol suspends agreement after Euler’s vulnerability exploitation

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On March 14, the official of the decentralized stable currency protocol, Angle Protocol, said that AngleProtocol was affected by Euler\’s vulnerability exploitat

AngleProtocol suspends agreement after Eulers vulnerability exploitation

On March 14, the official of the decentralized stable currency protocol, Angle Protocol, said that AngleProtocol was affected by Euler’s vulnerability exploitation, and the protocol deposited 17.6 million USDCs into Euler. The agreement has been suspended, the debt ceiling has been set to 0, and Euler AMO has been closed. The situation is being monitored and will be updated immediately after receiving the update.

Angle Protocol: 17.6 million USDC funds are affected by Euler attack

Analysis based on this information:


AngleProtocol, a decentralized stable currency protocol, has suspended its agreement after it was affected by Euler’s vulnerability exploitation. The protocol took quick action by depositing 17.6 million USDCs into Euler and setting the debt ceiling to 0. This was done to protect the funds and ensure that the vulnerability does not lead to a greater loss.

The exploitation of Euler’s vulnerability has led to the closure of Euler AMO, which is being monitored by AngleProtocol. The shutdown of Euler AMO is necessary to prevent any further damage to the system. AngleProtocol has said it will update its users as soon as it receives more information.

Euler is a decentralized financial platform that allows users to borrow money and earn interest by depositing cryptocurrency. According to Euler, the vulnerability was caused by a flawed integration with the Compound protocol. This integration allowed attackers to borrow an unlimited amount of USDC, which they then deposited to earn interest on.

AngleProtocol is a decentralized protocol that aims to create a stable currency by maintaining a 1:1 pegged ratio with the US dollar, using a decentralized governance system. The protocol is designed to be resistant to inflation and price volatility, and it relies on the use of collateralized debt positions to achieve this.

The suspension of AngleProtocol’s agreement highlights the need for robust security measures in decentralized financial platforms. Vulnerability exploitation can pose a significant risk to the funds of users and the stability of the entire system. As such, protocols must implement strict security protocols and continuously evaluate their systems to ensure that they are secure and resilient to potential threats.

In conclusion, AngleProtocol’s swift action to deposit funds into Euler and suspend its agreement demonstrates its commitment to protecting its users’ funds. The situation is still ongoing and will likely require further investigation. The closure of Euler AMO is an essential step in preventing further damage, and it is necessary for AngleProtocol to continue to monitor the situation to ensure that its users can transact securely.

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