Crypto
PT-reUSD Decline Triggers $36M in Morpho Liquidations
A sudden 2.8% decline in PT-reUSD on August 25, 2026, triggered $36.14 million in Morpho liquidations.
The liquidations occurred between 04:37:47 and 04:51:23 UTC, with 33 events concentrated in the USDC market, repaying $35.19 million of debt.
The affected Morpho market had $67.5 million of collateral against $52.2 million of borrows, while the Pendle reUSD pool had $8.97 million of liquidity due to mature on December 10, 2026.
Pendle and Steakhouse stated that the liquidations created no bad debt and that the oracle was configured correctly.