Aave sees $6 billion deposit drop as Kelp hack exposes structural risk for DeFi lender

Aave sees $6 billion deposit drop as Kelp hack exposes structural risk for DeFi lender
Source:Coin Desk
00:00 / 00:00
The AAVE token fell 16% and deposits fled the protocol after attackers used drained rsETH as collateral to borrow wrapped ether, leaving Aave to quantify how much bad debt it is now carrying.

Related Articles

Bear markets are temporary — airdrops are forever

Bear markets are temporary — airdrops are forever

Read more →
Trump’s USD1 stablecoin deepens concerns over conflicts of interest

Trump’s USD1 stablecoin deepens concerns over conflicts of interest

Read more →
BlackRock ‘BUIDL’ tokenized fund triples in 3 weeks as Bitcoin stalls

BlackRock ‘BUIDL’ tokenized fund triples in 3 weeks as Bitcoin stalls

Read more →
What are exit liquidity traps — and how to detect them before it is too late

What are exit liquidity traps — and how to detect them before it is too late

Read more →
Bitcoin price just ditched a 3-month downtrend as 'key shift' begins

Bitcoin price just ditched a 3-month downtrend as 'key shift' begins

Read more →
XRP ETF ‘obvious’ as Polymarket bettors up approval odds to 85%

XRP ETF ‘obvious’ as Polymarket bettors up approval odds to 85%

Read more →
Firms without business models ‘buy Bitcoin’ — Angel investor Jason Calacanis

Firms without business models ‘buy Bitcoin’ — Angel investor Jason Calacanis

Read more →
Rumble wallet rolls out with Tether’s USDT for creator payments

Rumble wallet rolls out with Tether’s USDT for creator payments

Read more →
Here’s what happened in crypto today

Here’s what happened in crypto today

Read more →
Polymarket faces scrutiny over $7M Ukraine mineral deal bet

Polymarket faces scrutiny over $7M Ukraine mineral deal bet

Read more →