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An address borrowed over 2,000 WBTC from Aave through circular lending

2023.10.09 - 09:08

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TechFlow reports, according to Lookonchain monitoring, an address starting with 0x1111 used circular lending on Aave—collateralizing ETH to borrow WBTC, then trading WBTC back into ETH to repeat the process—ultimately collateralizing a total of 44,956 ETH (worth approximately $73.5 million) and borrowing 2,088 WBTC (worth approximately $58.3 million).

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