Aave's TVL tanks $8B a day after $293M Kelp DAO hack

Aave's TVL tanks $8B a day after $293M Kelp DAO hack

0.48%TRX$0.3325 1.41%LINK$9.19 0.39%ADA$0.2459 0.92%BCH$438.70 1.50%XRP$1.41 1.30%ETH$2,286 2.41%BTC$74,646 1.20%XMR$352.82 0.10%BNB$621.76 0.26%XLM$0.1683 1.53%SOL$84.57 1.24%HYPE$41.25 5.07%USD Written by Brayden Lindrea,Staff WriterReviewed by Felix Ng,Staff EditorAave's TVL tanks $8B a day after $293M Kelp DAO hack47 minutes agoThe Aave token fell nearly 20% to $89.5 in just over 24 hours as users withdrew billions of dollars from the lending protocol. Total value locked on decentralized lending protocol Aave dropped by nearly $8 billion over the weekend after hackers behind the $293 million Kelp DAO exploit borrowed funds on Aave, leaving roughly $195 million in “bad debt” on the protocol and triggering withdrawals. Data from DeFiLlama shows that Aave’s TVL fell from about $26.4 billion to $18.6 billion by Sunday, losing the top spot as the largest DeFi protocol. Aave v3’s lending p

Source: https://cointelegraph.com/news/aave-tvl-falls-8-billion-after-kelp-dao-hack?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound