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Alameda Research liquidators lost $72K during fund consolidation attempt Cointelegraph via biedex.markets

What remains in the NFT market now that the dust has settled? By Cointelegraph


The liquidators of Alameda Research continue to encounter obstacles in their efforts to recover funds for creditors. Crypto analytics firm Arkham disclosed on Twitter that the liquidators lost $72,000 worth of digital assets on the decentralized finance (DeFi) lending platform Aave while trying to consolidate funds into a single multisignature wallet.

The liquidators were attempting to close a borrow position on Aave but instead removed extra collateral used for the position, putting the assets at risk of liquidation. Arkham reported that over nine days, the loan was liquidated twice for a total of 4.05 Wrapped (WBTC), which creditors will now not be able to recoup.

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Written by Sandy Sullivan