The downward price action continues or at least that's what the major cryptocurrencies by market capitalization show, to say the Bitcoin marked at the time of writing this article a pullback to the $26,000 area.
The reasons for the setbacks in the price action that the cryptocurrency market is experiencing have multiple interpretations that are mostly related to the current chaos that the traditional markets are going through, which has meant a visible macroeconomic and financial crisis that has been extended to the crypto market.
To complete the unstable scenario that cryptocurrencies are living today it was learned that a bug in one of the versions of Aave in Polygon is causing some assets to be trapped in contracts.
According to an article disclosed by Tom Blackstone of the Cointelegraph platform writing team, a bug in an older version of the Aave cryptocurrency lending protocol is blocking users from interacting with Wrapped Ether (WETH), Tether (USDT), Wrapped Bitcoin (WBTC) or Wrapped Matic (WMATIC) pools on Aave V2 Polygon, preventing assets from being withdrawn from them.
In the words of Blackstone a May 19 proposal that attempts to fix the bug via a patch. The proposal says that currently users cannot "supply more of those assets, borrow, refund or withdraw.
It should be noted that the broken code arose due to a May 16 interest rate curve patch applied to all V2 deployments. The Polygon implementation of V2 uses a slightly different list of function definitions (referred to as an "interface") for its rate strategy contracts compared to the Ethereum and Avalanche implementations.
Let's hope that this situation that the Polygon folks are going through can be resolved without major setbacks, as negative events like this increase the distrust around the cryptocurrency market.
SOURCES CONSULTED
Cointelegraph. Bug in Aave V2 Polygon causes some assets to become stuck in contracts. Link
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The cover image was designed by the author: @lupafilotaxia, incorporating image: Thebittimes
