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Aave sees $11B TVL drop following $292M KelpDAO Hack
#Aave ’s TVL plunged from $26B to $15B within days, an $11B drop triggered by the $292M #KelpDAO bridge exploit. It lost $6.2B in hours alone, down 23%. The hack caused $200M in bad debt across Aave’s rsETH markets, pushing pools to 100% utilization and trapping an estimated $5B as whales rushed to exit before rsETH turned insolvent.
#Morpho , #Sky , and #JupLend also saw heavy outflows, with total sector withdrawals reaching approximately $15B in 72 hours. Even #Solana protocols with no direct rsETH exposure were hit.
$606M was stolen across 12 exploits in 18 days. #Drift ($285M on April 1st) and KelpDAO ($292M on April 18th) made up 95% of losses, with both linked to North Korea’s Lazarus Group. It marks the worst month since the Bybit hack in February 2025.
#Aave ’s TVL plunged from $26B to $15B within days, an $11B drop triggered by the $292M #KelpDAO bridge exploit. It lost $6.2B in hours alone, down 23%. The hack caused $200M in bad debt across Aave’s rsETH markets, pushing pools to 100% utilization and trapping an estimated $5B as whales rushed to exit before rsETH turned insolvent.
#Morpho , #Sky , and #JupLend also saw heavy outflows, with total sector withdrawals reaching approximately $15B in 72 hours. Even #Solana protocols with no direct rsETH exposure were hit.
$606M was stolen across 12 exploits in 18 days. #Drift ($285M on April 1st) and KelpDAO ($292M on April 18th) made up 95% of losses, with both linked to North Korea’s Lazarus Group. It marks the worst month since the Bybit hack in February 2025.
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