Aave leads DeFi "patch" to stop losses, chain reaction of $292 million stolen from KelpDAO

robot
Abstract generation in progress

Mars Finance News, Aave has partnered with multiple institutions to launch the “DeFi United” rescue plan to address approximately $292 million in losses caused by the KelpDAO vulnerability attack, preventing bad debt from spreading. The attack originated from a vulnerability in the LayerZero integration, with hackers forging uncollateralized rsETH and lending out about $190 million worth of assets on Aave, leading to collateral distortion and a run on the platform, with TVL once evaporating by around $10 billion. Currently, Lido Finance, EtherFi, and founder Stani Kulechov have proposed capital injection plans; Arbitrum has frozen some funds, but the remaining assets have been transferred via THORChain, making recovery difficult. The current focus is on joint capital injections to “patch the holes” and stabilize the DeFi lending system.

AAVE2.02%
ZRO3.42%
ARB2.34%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin