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Aave leads DeFi "patch" stop-loss, chain reaction of $292 million caused by KelpDAO hack
ChainCatcher reports that Aave, in collaboration with multiple institutions, has launched the “DeFi United” rescue plan to address approximately $292 million in losses caused by the KelpDAO vulnerability attack, aiming to prevent bad debt from spreading.
The attack originated from a vulnerability in the LayerZero integration, where hackers forged uncollateralized rsETH and borrowed about $190 million worth of assets on Aave, leading to collateral distortion and a run on the platform, with TVL once evaporating by approximately $10 billion.
Currently, Lido Finance, EtherFi, and founder Stani Kulechov have proposed capital injection plans; Arbitrum has frozen some funds, but the remaining assets have been transferred via THORChain, making recovery difficult. The current focus is on joint capital injections to “patch the hole” and stabilize the DeFi lending system.