Aave TVL still down 43% since KelpDAO hack
One of DeFi’s largest lending platforms, Aave, lost its top TVL spot after the KelpDAO $290M cross-chain bridge hack.
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One of DeFi’s largest lending platforms, Aave, lost its top TVL spot after the KelpDAO $290M cross-chain bridge hack.
Read more (3 min) →Protos breaks down the arguments over who’s to blame for the $14B meltdown sparked by Saturday’s $290M hack
DeFi is in crisis mode with multiple lending markets at full utilization after $290M of Kelp DAO’s rsETH was hacked from Layer Zero.
While Aave and Maker (now Sky) founders basked in a 'DeFi renaissance moment,' some less well-known projects were losing millions.
Aave, which contains assets worth over $11 billion, moved to reassure users that the attack placed no user funds at risk.