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Arbitrum DAO Votes on $71M Transfer to DeFi United Recovery Fund
Arbitrum's governance has launched a vote to transfer 30,766 ETH (~$71M) to the DeFi United fund created to cover losses from the Kelp exploit.
Standard Chartered Maintains DeFi Outlook Despite $292M Kelp Protocol Hack
Standard Chartered analysts view the $292M Kelp protocol exploit as a serious but non-fatal blow to DeFi, maintaining their forecast for the tokenized asset market to reach $2 trillion by 2028.
LayerZero Commits 10,000 ETH to DeFi United Recovery Initiative
Omnichain protocol LayerZero Labs is pledging over 10,000 ETH (~$23M) to the Aave-led DeFi United initiative launched after the Kelp exploit. The move drew mixed reactions from the community.
DeFi United Raises Over $300M to Restore Ecosystem After Kelp Exploit
The DeFi United initiative has accumulated over 132,704 ETH ($302M) to recover from the Kelp protocol hack, fully covering the $290M in damages.
Weekly Recap: Aave Ecosystem Rescue Mobilizes 100,000 ETH and Quantum Computer Cracks 15-Bit ECC Key
Bitcoin held near $78,000, the DeFi community rallied over 100,000 ETH to help Aave recover from the Kelp hack, and a researcher cracked a 15-bit ECC key on a quantum computer.
DeFi United Raises Over 100,000 ETH to Rebuild Aave Ecosystem After Kelp Exploit
A coalition of DeFi protocols has pooled over 100,000 ETH (~$230M) into a recovery fund for Aave following the Kelp exploit, nearly covering the $290M in damages.
DeFi United: Major Protocols Pool Tens of Thousands of ETH to Rescue Aave
Following the Kelp exploit, leading DeFi protocols have banded together under the DeFi United initiative, committing tens of thousands of ETH to restore rsETH backing and stabilize Aave.
Aave Deposits Plunge by $16 Billion in Days Following Kelp Hack
Aave's total deposits dropped 35% from $45.8 billion to $29.6 billion after the Kelp exploit. The protocol's TVL has fallen to $15.1 billion, while AAVE token lost 13.8% in a week.
Kelp Hack Fallout: Aave Loses $15.1 Billion in Deposits Within Days
The Kelp protocol exploit triggered a massive $15.1 billion deposit exodus from Aave, stripping a third of its TVL. Meanwhile, rival platform Spark absorbed $1.3 billion in inflows.
Arbitrum Freezes 30,766 ETH Worth $71.2M in Kelp Hack Probe, Sparking Decentralization Debate
Arbitrum's Security Council froze 30,766 ETH stolen from Kelp protocol, igniting fierce debate over L2 decentralization. Aave faces up to $230M in bad debt as major players withdraw billions.
Over $8.6B Drained From Aave as Kelp DAO Hack Triggers Massive DeFi Exodus
Aave's TVL plunged from $26.3B to $17.7B in two days after hackers exploited Kelp DAO's cross-chain bridge, stealing $293M in rsETH and creating $195M in bad debt across lending protocols.
Kelp Protocol Loses $293M in Cross-Chain Bridge Exploit
Liquid restaking protocol Kelp suffered a $293M exploit through a vulnerability in its rsETH cross-chain bridge on LayerZero. AAVE dropped nearly 20% amid bad debt concerns.
Bank of Canada Study: Aave V3 Avoided Bad Debt — But Borrowers Paid the Price
A Bank of Canada study found that Aave V3 recorded zero bad debts over a two-year period, but the protocol's liquidation mechanisms shifted significant financial risks onto borrowers.
Aave V4 Goes Live on Ethereum with New Hub and Spoke Architecture
Aave has launched its fourth protocol version on Ethereum mainnet, introducing a Hub and Spoke liquidity architecture with three specialized hubs and a new free interface called Aave Pro.
Aave Co-Founder Stani Kulechov: DeFi Will Quietly Merge Into Traditional Finance
Aave Labs co-founder addressed governance conflicts within the protocol and shared his vision of DeFi becoming the invisible infrastructure layer for traditional banks.
Former Base and Aave Designer Benji Taylor Joins X as Design Lead
Elon Musk's X has appointed Benji Taylor, formerly of Base and Aave, as its new head of design. The hire comes as X prepares to launch its X Money payments platform in April.
Aave V4 to Boost Stablecoin Yields by 25% Through Idle Liquidity Reinvestment
Aave's upcoming V4 upgrade introduces a reinvestment module that automatically deploys idle liquidity into DAO-approved strategies. The feature could raise average stablecoin yields from 4% to 4.9%.
$50M Token Swap Loss: Aave Blames the User While CoW Swap Points to Technical Failures
Aave and CoW Swap released conflicting reports on a $50M token swap loss. CoW Swap cites algorithmic failures while Aave points to user error, and neither report adequately addresses the MEV bots that profited tens of millions.
Investor Loses $50M in Sandwich Attack While Swapping USDT for AAVE
An anonymous trader swapped 50.43 million USDT for AAVE tokens via CoW Protocol and SushiSwap but received only 327 tokens worth roughly $36,000. An MEV bot profited $9.9 million from the transaction.
Aave Oracle Malfunction Triggers $26M in Erroneous wstETH Liquidations
A misconfiguration in Aave's Correlated Asset Price Oracle (CAPO) caused erroneous liquidations of wstETH positions worth approximately $26 million. The team is preparing a compensation plan for affected users.
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