Aave Platform USDT Borrowing APY Surges to 14.99%

Mars Finance reports that on April 19, according to data from the Aave platform, the USDT borrowing APY surged to 14.99%, and the deposit APY soared to 13.39%. The KelpDAO hacker withdrew a large amount of ETH from Aave by using illegally minted rsETH as collateral, either for risk-hedging purposes to protect against risk, or for other purposes; more than $5.4 billion in assets was urgently withdrawn from Aave. The large-scale withdrawal of funds may have caused the USDT deposit and borrowing APYs on the Aave platform to spike.

AAVE-19.05%
ETH-2.92%
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