Aave Seeks to Lift Freeze on $71M Recovered ETH in Kelp DAO Case

Aave LLC filed an emergency motion in the Southern District of New York seeking to lift a restraining notice that froze about $71 million in recovered ETH tied to the April 18 Kelp DAO bridge exploit. The filing asked for immediate relief, or an expedited hearing with temporary relief, and said plaintiffs should post at least a $300 million cash bond if the freeze stays in place. Plaintiffs with unpaid judgments against North Korea argued that public attribution to Lazarus makes the assets eligible to satisfy those judgments. Aave said the exploit drained about $293 million in rsETH and left the protocol with between $124 million and $230 million in bad debt.