Aave Survives $8.45B Withdrawals After KelpDAO Exploit

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Aave handled about $8.45 billion in withdrawals after the KelpDAO rsETH bridge exploit raised concerns across DeFi markets. Attackers stole about $292 million worth of rsETH from KelpDAO's LayerZero bridge, while Aave's own smart contracts were not compromised. Some Aave markets reached 100% utilization, and risk managers used emergency freezes and risk-parameter changes. Stani Kulechov framed the episode as resilience, while independent analysts highlighted concentration and connected-platform risks.
AAVE1.85%
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