Aave Deposits Remain About $8 Billion Below Pre-Kelp Hack Levels
Aave deposits still 31% below pre-Kelp hack level Aave held $18.1 billion in deposits this week, still about 31% below the $26.1 billion it had before April’s Kelp DAO hack, even though Aave said its own smart contracts were never compromised. Attackers exploited Kelp’s bridge, minted 116,500 unbacked rsETH worth about $292 million, supplied 89,567 rsETH on Aave and borrowed roughly $193 million, leaving estimated bad debt of $123.7 million to $230.1 million.