Aave, a decentralized finance protocol, has fully restored liquidity to its lending pools after a $300 million cross-chain exploit drained assets. The attacker minted fake tokens and used them as collateral to borrow large amounts of Ethereum-based assets, weakening Aave's liquidity. Aave mobilized a $300 million industry rescue fund and secured a federal court order to replace the lost assets and protect depositors. The protocol also updated risk parameters and implemented new safeguards to prevent similar exploits in the future.
Leading cryptocurrencies like Bitcoin and Ethereum experienced significant price declines, with Bitcoin falling about 6.57% to $66,870 and Ethereum dropping nearly 5% to $1,901.68. This broad market sell-off reflects investor caution and potential pr...
The Kelp DAO hacker has laundered nearly all of the approximately $220 million stolen in an April bridge exploit, moving funds through privacy services like THORChain, Umbra, and Tornado Cash, making recovery difficult. Only about $1.7 million remain...
Renzo Protocol has transitioned the management of its Reserve vault's USCC tokenized fund from Superstate to Bitwise, effective June 1, 2026. The fund is now rebranded as the Bitwise Crypto Carry Fund, with Superstate maintaining on-chain infrastruct...
Aave announced a major update to its risk management after a $230 million exploit involving rsETH tokens in April 2026. The attack was not due to flaws in Aave's smart contracts but stemmed from a compromised cross-chain bridge used by KelpDAO, which...
Aave's $230 million rsETH exploit was traced to a failure in KelpDAO's LayerZero bridge, not Aave's smart contracts. Attackers forged a cross-chain message to mint unbacked rsETH, exposing risks in bridge verification systems. In response, Aave is ov...
