KelpDAO Hack News: Aave Leads DeFi Bailout Push After $292M Crypto Exploit

KelpDAO hack news: Aave leads DeFi bailout push after $292M crypto exploit

Industry players are coordinating a recovery effort as the year's biggest crypto theft rattled Aave, with Lido and EtherFi being firsts to offer aid.

Aave Leads ‘DeFi United’ Push to Contain $292M KelpDAO Fallout

Aave's founder has pledged 5,000 ETH of his own money as a growing DeFi coalition races to contain the fallout from the KelpDAO exploit.

Kelp Exploit Aftermath: DeFi Protocols Join Hands to Restore rsETH Following $293 Million Hack

Several DeFi protocols have joined forces to restore rsETH backing after a $293 million exploit at Kelp DAO. The initiative, dubbed “DeFi United,” has already secured significant Ether commitments as platforms work together to address liquidity and bad debt issues in the ecosystem.

Crypto protocols pledge 43K ETH to restore rsETH backing

Mantle, EtherFi Foundation, Golem Foundation, Lido DAO, Ethena, LayerZero, Ink Foundation and Tyrdo have all made pledges to the “DeFi United” recovery effort.

Aave freezes $292 million rsETH after KelpDAO hack

🚨 Aave has frozen $292 million in rsETH after the KelpDAO hack. Major protocols, including Lido and EtherFi, joined the recovery initiative with emergency capital. 🧩 Critical data: In the recovery plan, over 1,800 participants voted unanimously to back the $RS-ETH rescue, with furthe...