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Aave, Compound Publish rsETH Recovery Plan After $293M Kelp DAO Hack
DeFi United published a recovery plan backed by $303 million in committed capital and credit to restore rsETH backing and remove bad debt on Aave and Compound after the Kelp DAO hack. The plan would convert pledged ETH into rsETH in tranches and target about 13,000 ETH on Aave plus 16,776 ETH on Compound through controlled liquidations. The Arbitrum Security Council has already frozen $71.5 million traced to the exploiter’s addresses.