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Aave Expands to Solana After $292M rsETH Exploit Strains DeFi Lending
Aave expanded to Solana after the $292 million KelpDAO rsETH exploit strained DeFi lending markets. Lily Liu said on April 25 that the Solana Foundation is lending USDT to Aave as part of a broader recovery effort. Reports said attackers redeemed 116,500 unbacked rsETH on Ethereum and borrowed roughly $292 million after posting the assets across Aave, Compound, and Euler. Oak Research said the shock drove a 17% drop in DeFi TVL and more than $12 billion of outflows from Aave.