Vesu oracle incident triggers $3M in liquidations
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Cryptocurrency News | Cryptocurrency Prices | Market CapVesu oracle incident triggers $3M in liquidations
Starknet lending protocol Vesu has reported that a faulty Pragma price feed triggered the abnormal liquidation of 47 positions holding $3 million in collateral on Sept. 4. Vesu traces $3M liquidation to Pragma price feed Vesu said in a Sept.…
According to Vesu, a defective price feed from Pragma activated the irregular settlement of 47 positions for two minutes. The protocol ensures that their contracts worked as scheduled and coordinates with Starknet organizations to try to recover $3 million in guarantees.
A failure that lasted just two minutes was enough to blow up 47 positions and cancel 3 million dollars of guarantees on Vesu, the protocol of lending on Starknet. The incident oracle Vesu took off on 4 September, when a price feed provided by Pragma transmitted wrong data to the network, triggering automatic liquidations [...]
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