Binance BNB Bridge Exploiter Address Faces Liquidation Concerns
In a complex tangle of smart contracts and fluctuating crypto prices, the Binance BNB Bridge exploiter address has fallen below the critical health rate of 1, causing speculation about potential liquidation scenarios.
- The exploiter address holds a significant collateral of 784,616.10 BNB and a debt position in the form of USDT and USDC totaling $124 million.
- The health rate of the address has dropped to 0.99, while the price of Binance Coin (BNB) has fallen to $207.9, well below the liquidation price of $210.80.
- The Venus community has passed a governance proposal to whitelist the liquidation of the exploiter’s position.
- Binance co-founder He Yi assures that Binance will cover the BNB collateral and liquidate it in time, without affecting the secondary market price.
- Analysts speculate on whether Binance CEO Changpeng Zhao intends to execute the liquidation to remove the illegitimate BNB from the ecosystem.
Hot Take
The falling health rate of the Binance BNB Bridge exploiter address and the potential liquidation raise concerns about the stability and governance of the crypto ecosystem. It remains to be seen how Binance and CZ will handle the situation and address the community’s concerns.
By
By
By
By
By