Aave froze its lending markets on Avalanche to prevent a suspected thief from using approximately 1.81 million stolen AVAX from Binance as collateral. The incident reportedly began around 20:24 UTC on October 29, 2026, with an estimated 3.3 billion dollars moving across several blockchains, including Avalanche. Tether and Circle also froze assets linked to the transactions, worth approximately 1.5 billion and 823 million dollars respectively. Aave says it has suffered no direct losses, but the suspension may disrupt legitimate Avalanche users and raises questions about the control exercised by decentralized protocols.
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