Compound Suspends cETH Operations Due to Protocol Update Error
The team behind the lending protocol Compound has suspended lending and collateral withdrawals for cETH tokens following the discovery of a bug in activated Proposal 117. The offer has updated price feeds for Compound v2.
According to the project developers, the bug reportedly leads to the cancellation of transactions for suppliers and borrowers of ETH.
We should note that the code was checked by OpenZeppelin, Dedaub and ABDK.
Some users have admitted the developers contributed the code after it had been studied by audit firms.
According to Compound devs, there are no risks to user funds. The protocol still allows the addition of collateral, including Ethereum. The interface will be unavailable for some time due to “price discrepancies.”