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Morpho BlueVault (aggregates across markets)
К3 cbMaxxxing USDC
Risk reportBase0x0548…5a5c
Risk
Depositing into К3 cbMaxxxing USDC means underwriting risks you usually can't see: how much you could lose, whether you'd get out in time, and what would cover it.
How much could be lost?
$
18%of your deposit if collateral falls 50%Only smart-contract bug reaches a total 100%, with no warning to exit.
Can I exit?
Via underlying marketsonly governance changes give a 3-day timelock to exit — every other modeled failure is no-warning
What backs it?
No committed backstopnothing committed would cover a loss
Track record
No pool-level losses recorded36 audits, latest Dec 15, 2025
Collateral and oracle exposure
Each token you're exposed to, and the market it backs. If that market breaks, this is how much the vault loses, in dollars and as a share of the vault. Open a row for the price feed, stress curve, and supply-cap detail. Below, the oracles those prices depend on and what is at stake if one is compromised.
If collateral prices dropper asset · no liquidations · stress estimate
est. bad debt up to <1% of deposit
Driven by cbXRP −30% <1% · cbZEC −30% <1% · cbBTC −30% <1% · other <1% · −100% 90% modeled all-to-zero bad-debt ceiling
CollateralAllocationMarket ExposureOracle Exposure
cbXRPMarketChainlink84%of vault · bad debt · $3.1mOracle exposure 9%93%of vault · $3.44m84%of vault · $3.1m9%separate path
cbXRPMarketChainlink84%of vault · bad debt · $3.1mOracle exposure 9%What it's made of
cbXRP token pageMarket· Chainlink(aggregator)
cbXRP is priced via XRP / USD — market-rate feed (Chainlink).
BaseXRP / USDMarketChainlink
Markets this collateral backs · 3
- → USDC63% LLTV0x031b…0fdeChainlink
- → USDC86% LLTV0xef19…724cChainlink
- → USDC77% LLTV0x031b…0fdeChainlink
Aggregate Collateral Trust (ACT):$6.76m16 vaultsToken:0xcb58…a4afAllocation: 93% of the vault · $3.44m
If it breaks
−30% defaultAt −30%:est. bad debt up to 0.1% of depositUses 3 market LLTV curves · capped at allocation $3.44m · drag to set this asset's drop
Oracle exposure: up to 9% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake pricecbADAMarketChainlink5%of vault · bad debt · $194,984Oracle exposure 0.6%6%of vault · $216,4395%of vault · $194,9840.6%separate path
cbADAMarketChainlink5%of vault · bad debt · $194,984Oracle exposure 0.6%What it's made of
cbADA token pageMarket· Chainlink(aggregator)
cbADA is priced via ADA / USD — market-rate feed (Chainlink).
BaseADA / USDMarketChainlink
Markets this collateral backs · 1
- → USDC63% LLTV0x35d8…e45fChainlink
Aggregate Collateral Trust (ACT):$530,58811 vaultsToken:0xcbad…7b8cAllocation: 6% of the vault · $216,439
If it breaks
−30% defaultAt −30%:no modeled bad debtUses 1 market LLTV curve · capped at allocation $216,439 · drag to set this asset's drop
Oracle exposure: up to 0.6% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake pricecbLTCMarketChainlink0.4%of vault · bad debt · $14,328Oracle exposure <0.1%0.4%of vault · $15,9990.4%of vault · $14,328<0.1%separate path
cbLTCMarketChainlink0.4%of vault · bad debt · $14,328Oracle exposure <0.1%What it's made of
cbLTC token pageMarket· Chainlink(aggregator)
cbLTC is priced via LTC / USD — market-rate feed (Chainlink).
BaseLTC / USDMarketChainlink
Markets this collateral backs · 1
- → USDC63% LLTV0x47f9…a00dChainlink
Aggregate Collateral Trust (ACT):$93,80411 vaultsToken:0xcb17…445fAllocation: 0.4% of the vault · $15,999
If it breaks
−30% defaultAt −30%:no modeled bad debtUses 1 market LLTV curve · capped at allocation $15,999 · drag to set this asset's drop
Oracle exposure: up to <0.1% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake pricecbZECMarketChainlink0.2%of vault · bad debt · $8,394Oracle exposure <0.1%0.3%of vault · $9,3270.2%of vault · $8,394<0.1%separate path
cbZECMarketChainlink0.2%of vault · bad debt · $8,394Oracle exposure <0.1%What it's made of
cbZEC token pageMarket· Chainlink(aggregator)
Priced off live market data — a depeg moves the price and can liquidate positions.
Markets this collateral backs · 1
- → USDC77% LLTV0x3a7a…ecf7Chainlink
Aggregate Collateral Trust (ACT):$241,9909 vaultsToken:0xb200…b2ecAllocation: 0.3% of the vault · $9,327
If it breaks
−30% defaultAt −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $9,327 · drag to set this asset's drop
Oracle exposure: up to <0.1% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake pricecbDOGEMarketChainlink0.2%of vault · bad debt · $5,854Oracle exposure <0.1%0.2%of vault · $6,5030.2%of vault · $5,854<0.1%separate path
cbDOGEMarketChainlink0.2%of vault · bad debt · $5,854Oracle exposure <0.1%What it's made of
cbDOGE token pageMarket· Chainlink(aggregator)
cbDOGE is priced via DOGE / USD — market-rate feed (Chainlink).
BaseDOGE / USDMarketChainlink
Markets this collateral backs · 1
- → USDC63% LLTV0xa9d3…91b2Chainlink
Aggregate Collateral Trust (ACT):$273,03311 vaultsToken:0xcbd0…b510Allocation: 0.2% of the vault · $6,503
If it breaks
−30% defaultAt −30%:no modeled bad debtUses 1 market LLTV curve · capped at allocation $6,503 · drag to set this asset's drop
Oracle exposure: up to <0.1% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake pricecbBTCMarketChainlink<0.1%of vault · bad debt · $910.91Oracle exposure <0.1%<0.1%of vault · $1,010<0.1%of vault · $910.91<0.1%separate path
cbBTCMarketChainlink<0.1%of vault · bad debt · $910.91Oracle exposure <0.1%What it's made of
cbBTC token pageMarket· Chainlink(aggregator)
cbBTC is priced via BTC / USD — market-rate feed (Chainlink).
BaseBTC / USDMarketChainlink
Markets this collateral backs · 1
- → USDC86% LLTV0x663b…39b9Chainlink
Aggregate Collateral Trust (ACT):$246.89m53 vaultsToken:0xcbb7…33bfAllocation: <0.1% of the vault · $1,010
If it breaks
−30% defaultAt −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $1,010 · drag to set this asset's drop
Oracle exposure: up to <0.1% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake pricecbHYPEMarketChainlink<0.1%of vault · bad debt · $249.99Oracle exposure <0.1%<0.1%of vault · $268.80<0.1%of vault · $249.99<0.1%separate path
cbHYPEMarketChainlink<0.1%of vault · bad debt · $249.99Oracle exposure <0.1%What it's made of
cbHYPE token pageMarket· Chainlink(aggregator)
Priced off live market data — a depeg moves the price and can liquidate positions.
Markets this collateral backs · 1
- → USDC86% LLTV0xc15a…ff69Chainlink
Aggregate Collateral Trust (ACT):$42,5459 vaultsToken:0xb200…479eAllocation: <0.1% of the vault · $268.80
If it breaks
−30% defaultAt −30%:est. bad debt up to <0.1% of depositUses 1 market LLTV curve · capped at allocation $268.80 · drag to set this asset's drop
Oracle exposure: up to <0.1% of vault drainable if the feed is compromisedseparate path: an attacker borrows against a fake price+1 market with no current position
Oracle dependencies
1 feed1 control pointUp to10%of vault drainable if these feeds are mispriced · $364,305
Each price traces to a feed and the onchain admin that can move it. Compromise either to misprice the collateral and borrow against it. Per-row amounts overlap and are not summed.
- Chainlink·a 4/9 Safe multisigprices cbXRP, cbBTC, cbETH, cbADA, cbZEC, cbDOGE, cbHYPE, cbLTC0xf0db…5b1b10% of vault · $364,305drainable if it is compromised
Updated 38min agoSources:on-chain reads via @defillama/sdkhttps://hub.snapshot.org/graphqlhttps://api.morpho.org/graphql