Aave pauses V2 on Ethereum, freezes certain assets on V3 due to reported issue

DeFi lending protocol Aave has halted some operations as a temporary protective measure following reports of an issue, the protocol announced in a after on X. No funds are at risk, according to the protocol.

The protocol has paused operations of Aave V2 on Ethereum, along with freezing certain assets on Aave V3 on Polygon, Arbitrum, and Optimism. The service announced by the protocol will restart following the approval of an upcoming proposal to restart the suspended activities, and that a postmortem explaining the problem will be released “once the problem has been fully resolved”.

The protocol clarified that V3 remains live on Ethereum, Base, and Metis, and V2 operations on Polygon and Avalanche remain unaffected. Aave did not immediately respond to a request for comment from The Block.

This is a development story.