According to on-chain analyst Yu Jin, the attacker behind the March THE collateral liquidation incident on Venus sold 1,912 ETH one hour before the report and converted the proceeds into $3.26 million in stablecoins. The funds were used to repay borrowings on Aave.
ETH sale used for Aave debt repayment
Yu Jin said the Aave loan was connected to the attacker’s March activity, when ETH was supplied as collateral and funds were borrowed. Those borrowed funds were then used to manipulate THE collateral liquidation on Venus.
At the time of the monitoring update, the attacker still had 6.78 million USDT in outstanding borrowings on Aave. The disclosed on-chain movements cover the ETH sale, the conversion into stablecoins, and the partial repayment of Aave debt, linking the latest transaction flow back to the March Venus liquidation incident.