A $300 million hole doesn’t usually come with a neat repair manual. This time, the group spearheading the Kelp DAO recovery effort …
Exploit
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Smart Contracts
Aave-Led ‘DeFi United’ Relief Effort Raises $300 Million to Cover Kelp DAO Exploit Losses
by shayaanby shayaanIn short As of Monday, DeFi United has received enough contributions to potentially restore rsETH, receiving contributions worth $303 million. The coordinated …
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DeFi
‘Precautionary’- Wrapped Bitcoin (wBTC) tightens security after KelpDAO $293M exploit
by shayaanby shayaanWrapped Bitcoin (wBTC), one of the most widely used Bitcoin derivatives across the Ethereum ecosystem, has announced security measures amid ongoing DeFi …
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Markets
Aave raises nearly 80% of the $200 million it needs to cover bad debt left by Kelp DAO exploit
by shayaanby shayaanBlockchain analytics platform Arkham said that the largest contributors are Mantle and Aave DAO, having raised a combined $127 million. www.coindesk.com
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DeFi
Aave Announces ‘DeFi United’ Relief Fund to Restore rsETH Backing After Kelp Exploit
by shayaanby shayaanAave is rallying the DeFi ecosystem under a coordinated effort it’s calling “DeFi United” to help make users whole after the April …
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An OTC whale has recently experienced notable losses due to the market uncertainty amid the exploit of the DeFi protocol KelpDAO. Particularly, …
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Scams
Arbitrum Security Council Freezes $71.5M in Ethereum linked to $292M KelpDAO Exploit
by shayaanby shayaanIn brief The Arbitrum Security Council has frozen 30,766 ETH worth $71.5 million linked to the weekend’s KelpDAO exploit. The funds can …
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LayerZero is facing heavy criticism for its response to the recent $290 million KelpDAO exploit after the omnichain interoperability protocol blamed Kelp’s …
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Markets
Aave could face up to $230 million in losses after Kelp DAO bridge exploit triggers DeFi chaos
by shayaanby shayaanAave published a report outlining two possible outcomes: around $123 million in losses if damage is shared across all rsETH, or up …
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DeFi
A $300 million borrowing spike on Aave signals liquidity crunch after exploit
by shayaanby shayaanThe aftershocks of the Saturday’s KelpDAO hack are spreading through stablecoin markets in ways that were not immediately obvious. Int he first …