Compound Suspended The cETH Market After A Bug

Following a fault in a recent proposal that produced a problem with the price feed, Compound Labs has stated that it has paused its Compound Ether (cETH) market. Even though three auditors had examined the contract, Compound noted that it contained a mistake that led to the reversal of transactions for ETH suppliers and borrowers. An hour ago, Proposal 117 was executed, which updated the price feed that Compound v2 uses. This price feed, while audited by three auditors, contained an error that is causing transactions for ETH suppliers and borrowers to revert.https://t.co/a2DFk7h0ET — Compound Labs (@compoundfinance) August 30, 2022 cETH Market Suspended After Bug GFX Labs put out Proposal 117 on behalf of Chainlink, which centers on creating a new price oracle. It upgraded the anchor market from Uniswap v2 to v3 and requested an upgrade of the protocol’s oracle contract to version 3. With no votes against it, it gets approved without dissent. The team announced that until proposal 119 takes effect, the cETH market would be frozen. The latter restores the old price feed. Compound Labs states that although it will take seven days for this to effect, funds are not at risk immediately. Compound Finance Glitch On August 31, they said that users need to continue to be able to provide collateral, including Ether. Any interface problems need to resolve soon. Michael Lewellen, Architect for OpenZeppelin Security Solutions, stated that ...