.AaveAave eliminated the bad debt of 2.7 million $CRV dao tokens remnant from the recently arrested Avi Eisenberg’s botched trade. sndr_krisztian reports
The move came after Aave’s community approved the procurement of the necessary CRV tokens using the ParaSwap decentralized exchange aggregator in a
concluded on Tuesday. The protocol is governed by a decentralized autonomous organization and AAVE token holders vote on proposals.Avraham Eisenberg roiled Aave with a trading strategy that involved borrowing tens of millions of CRV tokens from the platform. After a sudden price spike due to a short-squeeze, his position got liquidated leaving Aave with bad debt in CRV that amounted to $1.6 million at the time.by DeFi data platform EigenPhi found that the liquidator of the bad debt pocketed some $1 million profit due the recent upswing in crypto markets that helped lead to a 98% gain in CRV since the start of the year.
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