Angle Protocol: 17.6 million USDC funds affected by the Euler attack incident

ChainCatcher news, the decentralized stablecoin protocol Angle Protocol stated on social media that, affected by the Euler exploit, Angle Protocol has deposited 17.6 million USDC into Euler. The protocol has been paused, the debt ceiling has been set to 0, and the Euler AMO has been closed. The Angle team is monitoring the situation and will provide updates as soon as they receive new information.

In a Q&A article, Angle Protocol stated that before the Euler hack, the TVL of the Angle Core module was approximately $36 million, and 17.2 million agEUR had been minted through the core module. Additionally, the protocol has: 1. Approximately $11.6 million in deposits from standard liquidity providers; 2. Approximately $353,000 in deposits from hedge agents; 3. A surplus of about $5.58 million.

Angle Protocol indicated that if the funds from the hack (17,614,940.03 USDC) are confirmed to be lost, the TVL of the core module will drop to about $18.4 million. In this case, the amount of reserves in the core module will be lower than the claim values of agEUR holders, standard liquidity providers, and the remaining hedge agents in the protocol. (source link)