Key Takeaways:
Aave froze rsETH reserves within hours of the April 18 Kelp DAO exploit, which created up to $230.1 million in bad debt. DeFi United raised $160M by April 25, with Mantle and Aave DAO pledging 55,000 ETH combined. Governance votes on Aave DAO’s 25,000 ETH contribution are ongoing as the protocol works to fully restore rsETH backing. DeFi United Raises $160M to Backstop AaveThe attacker moved quickly. About 89,567 rsETH, worth approximately $221 million, was deposited as collateral across Aave V3 markets on Ethereum and Arbitrum. The attacker then borrowed around 82,650 WETH, worth roughly $191 million, plus smaller amounts of wstETH.
