A $300 million borrowing spike on Aave signals liquidity crunch after exploit

A $300 million borrowing spike on Aave signals liquidity crunch after exploit

Search/NewsVideoPricesResearchConsensus 2026Data & IndicesSponsoredSearch/enMarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailA $300 million borrowing spike on Aave signals liquidity crunch after exploitThe aftershocks of the Saturday's KelpDAO hack are spreading through stablecoin markets in ways that were not immediately obvious.By Omkar Godbole|Edited by Shaurya MalwaUpdated Apr 20, 2026, 9:40 a.m. Published Apr 20, 2026, 9:27 a.m. Make preferred on Trapepd USDT deposits on Aave trigger large borrowing. (Boitumelo/Unsplash)What to know: A massive exploit of KelpDAO's rsETH token led an attacker to drain about $292 million in value, primarily by depositing unbacked tokens into Aave and borrowing real assets against them.In the 24 hours after the hack, whales rapidly pulled more than $6 billion from Aave, pushing major pools like ETH, USDT and USDC to 100% uti

Source: https://www.coindesk.com/markets/2026/04/20/a-usd300m-borrowing-spike-on-aave-signals-liquidity-crunch-after-exploit