Roughly $27 million in positions were liquidated on the decentralized lending protocol Aave over the past 24 hours due to a temporary pricing glitch. The issue may have been related to the token, wstETH, which represents staked Ethereum (ETH) and accumulates staking rewards over time. The problem arose from a mismatch between outdated parameters stored in a smart contract, including an outdated reference exchange rate and its timestamp, causing the protocol to treat wsteth as about 2.85% less valuable than its true value. Despite the liquidation surge, Aave founder Stani Kulechov stated that the incident did not cause any systemic damage.