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Aave Raises $160M Toward $200M Kelp DAO Bad-Debt Gap

2026-04-26 16:25:18

Aave has raised about $160 million toward the $200 million needed to cover bad debt tied to the Kelp DAO exploit. Arkham said Mantle and AAVE DAO were the largest contributors and together supplied 55,000 ETH worth $127 million. Aave and several major crypto firms launched the DeFi United recovery effort last week to stabilize rsETH. The exploit was linked to a KelpDAO integration vulnerability with LayerZero that minted 116,500 unbacked rsETH.

AAVE0.68%

MNT0.70%

ETH1.46%

ZRO-1.39%

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