$6,280,000,000 Abruptly Exits Ethereum-Based Lending Platform As Cross-Chain Hack Triggers Mass Withdrawals

$6,280,000,000 Abruptly Exits Ethereum-Based Lending Platform As Cross-Chain Hack Triggers Mass Withdrawals

The total value locked in one of crypto’s most trusted decentralized lending platforms is plummeting after hackers successfully attacked a third-party cross-chain staking protocol. According to LookonChain, Aave has witnessed its TVL plunge by $6.28 billion in under 48 hours after KelpDAO’s LayerZero-powered cross-chain bridge was compromised and about $292 million of its rsETH token were minted out of thin air. “Due to the KelpDAO exploiter borrowing over 82,600 ETH ($195M) from Aave using rsETH as collateral, bad debt has appeared on Aave. Many whales have withdrawn funds from Aave, causing its TVL to drop from $26.396B to $20.114B, a decline of $6.28B. • MEXC withdrew $431 million • Whale 0x7CD0 (possibly linked to Nonco) withdrew $405.7 million • Abraxas Capital withdrew $392 million Aave itself was not hacked, but the protocol is now exposed to significant bad debt from the now-wort

Source: https://dailyhodl.com/2026/04/19/6280000000-abruptly-exits-ethereum-based-lending-platform-as-cross-chain-hack-triggers-mass-withdrawals/