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Angle Protocol And Euler’s Vulnerability

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Angle Protocol And Eulers Vulnerability

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:


On March 14, an official from the Angle Protocol revealed that the decentralized stable currency protocol had been affected by Euler’s vulnerability exploit. According to the announcement, the attackers had deposited 17.6 million USDCs into Euler, which is an algorithmic money market protocol built on the Angle Protocol. As a result, the Angle Protocol has suspended the agreement, set the debt ceiling to 0, and closed Euler AMO, the asset management platform that provides liquidity to Euler.

Euler’s vulnerability refers to a loophole in the algorithmic system of the Euler protocol, which was exploited by hackers. The vulnerability allowed the attackers to deposit more USDCs than what the protocol could handle, leading to a system overload. The exploit resulted in a massive deposit of USDCs into Euler, which triggered the suspension of the Angle Protocol and its related platform, Euler AMO.

The Angle Protocol is a decentralized stable currency protocol that is primarily designed to provide a decentralized stablecoin issuance and exchange platform. The protocol enables users to trade and exchange stablecoins with a low risk of volatility, making it ideal for investors looking for a stable investment option in the cryptocurrency market. Euler, on the other hand, is an algorithmic money market protocol that provides users with a platform to earn interest on their deposits in a decentralized manner.

With the Angle Protocol currently suspended, it is unclear when the platform will be operational again. The announcement states that the situation is being monitored, and updates will be provided as soon as possible. The closure of Euler AMO means that users cannot deposit, withdraw or trade stablecoins on the platform.

This incident highlights the need for decentralized platforms to prioritize security measures to prevent such vulnerabilities from being exploited by malicious actors. Users should be cautious when investing in cryptocurrency and ensure they choose reliable platforms with strong security protocols. This is particularly important in the decentralized finance (DeFi) sector, where the risks of system exploits and hacks are relatively high.

In conclusion, the vulnerability exploit in Euler’s system has affected the Angle Protocol and its related platform, Euler AMO. The closure of Euler AMO means that the trading of stablecoins on the platform is currently unavailable. The situation is being monitored, and further updates will be provided as soon as they are available.

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