Yes, the Aave part of the story checks out, at a much smaller size than the viral posts imply.

Yes, the Aave part of the story checks out, at a much smaller size than the viral posts imply.

Binance puts the Oct 29 incident at around $6.3B and says about $3B is frozen on-chain so far, including over 1.567B USDT frozen by Tether and over 800M USDC reported frozen by Circle, with user funds to be covered via SAFU and company funds (Binance estimate, Binance frozen total). Withdrawals remain paused with a resume expected in about 45-48 hours (Binance update).

Aave says its contracts are unaffected and positions remain overcollateralized, but it froze new deposits and borrows on all DAO-operated V3 and V4 markets as a precaution, leaving withdrawals and repayments open (Aave).

About 40 minutes before that freeze, a wallet linked to the exploiter deposited about 60M USDT into Aave V3 Ethereum Core and borrowed 19,762 WETH worth about $44.6M, effectively swapping freezable USDT for ETH that Tether cannot freeze. The $1.5B-deposited-into-Aave version is wrong, the deposit was $60M.

The posts you quote (quantJB, vibeman_0, larry00_1) describe the mechanism correctly but overstate the scale trapped versus extracted.