Nostra Finance: sSTRK and xSTRK price information is incorrect, users should withdraw collateral as soon as possible

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On March 24, Nostra Finance, a DeFi protocol in the Starknet ecosystem, announced that they discovered serious issues with the price information of xSTRK and sSTRK, which caused their value to increase by approximately 3 times between blocks 1256310 and 1256360 (for example, xSTRK rose from $0.1793 to $0.5897). This price increase could lead to unnecessary liquidation of originally secure positions.

Due to the lack of available alternative oracles to support these assets, Nostra cannot completely prevent similar events. To protect user funds, Nostra decided to immediately reduce the collateral cap of sSTRK and xSTRK to zero, no longer allowing new collateralization, and recommended that sSTRK and xSTRK users withdraw their collateral as soon as possible. Nostra will continue to monitor the situation and update subsequent steps, reassessing the reliability and feasibility of xSTRK and sSTRK price information.

NSTR
2.92%
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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