AvalancheShock
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šØAvalanche Shocked: $400 Million Locked in a Failure and Binance Becomes the Center of Panic!šØ
April 1, 2025 ā The crypto world has been shaken by a bombshell news! šØ On March 28, a critical outage paralyzed a subnet of Avalanche, locking $400 million in AVAX and related tokens for over 18 hours, according to CoinDesk. The price of AVAX plummeted by 5% in two days, dropping to $18, and Binance is now the refuge for traders in the midst of a storm that no one expected! š„
Here are the bare facts: the problem, confirmed by Ava Labs, stemmed from a configuration error in a high-volume DeFi subnet, which halted transactions and shook Avalanche's TVL, which fell by $700 million to $11 billion (DefiLlama). CryptoQuant reports that 9 million AVAX were moved to exchanges in 48 hours, with $130 million in derivative positions liquidated. The team restored the network on March 29, but trust is hanging by a thread. š±
Here are the bare facts: the problem, confirmed by Ava Labs, stemmed from a configuration error in a high-volume DeFi subnet, which halted transactions and shook Avalanche's TVL, which fell by $700 million to $11 billion (DefiLlama). CryptoQuant reports that 9 million AVAX were moved to exchanges in 48 hours, with $130 million in derivative positions liquidated. The team restored the network on March 29, but trust is hanging by a thread. š±
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