CryptoWorld News reports that, according to CryptoNews, the DeFi rescue effort led by AAVE has raised more than 1.01 billion US dollars worth of Ethereum to restore support for rseth, after Kelp DAO suffered a 293 million US dollars hack that disrupted the lending market. AAVE said this coordinated response is referred to as the “DeFi Joint” rescue operation, which has received commitments of more than 43,500 Ethereum, and the platform is working to contain the impact and rebuild support for the affected assets. AAVE founder Stani Kulechov also pledged 5,000 Ethereum, saying that further commitments with partners are still being finalized. To control losses, AAVE has paused its rseth reserves on Ethereum, Arbitrum, Base, Mantle, and Linea.

AAVE1.19%
ETH0.08%
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