- Assets worth $110 million were affected
- The reason for the failure is that ReserveInterestRestRateStrategy is compatible with Polygon
- All funds in the pool are perfectly safe
Audit company BlockSec said on Twitter that a recent update to Aave V2 (Polygon) caused a temporary protocol outage and affected assets worth $110 million.
The reason for the stop is that the new strategy is only compatible with Ethereum, not Polygon.
The Aave V2 Polygon lending protocol found problems with new ReserveInterestRestRateStrategy contracts.
These failures concerned such assets as WETH, WBTC, USDT and WMATIC. Users could not perform any actions with them.
Aave explained the details of the problem:
“The root of the problem is that, for outdated reasons, the v2 version used in Aave v2 Polygon (and Avalanche) is slightly different from Aave v2 Ethereum.
Since the Aave v2 Polygon is completely controlled by management, the only possible way to fix this is with the inter-network management proposal that we will introduce today, as soon as possible.”
The company also explained that the shutdown only affects the Aave v2 Polygon.
All other instances on Ethereum and Avalanche work fine. And all funds are safe, regardless of whether assets are affected.