Kelp DAO has finalized its recovery plan after a $292 million exploit that compromised rsETH tokens on its Ethereum bridge. The final batch of 20,373.72 rsETH was sent to the LayerZero OFT adapter, restoring normal operations including minting, redemptions, and staking rewards. The exploit involved a forged LayerZero packet that allowed the attacker to release tokens and use them as collateral on Aave, causing wider DeFi lending issues. With the recovery complete, Kelp now monitors the system and provides transparency via a public dashboard.
Grayscale Research values the AAVE governance token between $80 and $100, with a potential rise to $175 within a year, citing Aave's dominance in decentralized lending, controlling nearly half of all on-chain lending activity. The report highlights A...
Ethereum gained 2.75% for the second day, reaching $1,720, driven by positive news like a U.S.-Iran peace deal and the Strait of Hormuz reopening. Despite some concerns from rising exchange reserves, large withdrawals and whale purchases indicate str...
A major Ethereum whale with 131,000 ETH borrowed $10 million in USDe stablecoins from Aave to purchase 5,818 ETH at $1,719 each, continuing a pattern of leveraged ETH accumulation. This strategy uses DeFi leverage by borrowing stablecoins against exi...
Babylon, a Bitcoin staking protocol, has secured over $5 billion in staked Bitcoin, allowing users to stake BTC natively on Bitcoin's network and earn yield by helping secure Proof-of-Stake chains. Through a new partnership with Aave, users can now b...
