Aave processed about $8.45 billion in withdrawals after a KelpDAO rsETH bridge exploit sparked broader concerns across DeFi markets. According to NS3.AI, attackers stole about $292 million worth of rsETH from KelpDAO’s LayerZero bridge, while Aave’s own smart contracts were not compromised.
The withdrawal wave pushed some Aave markets to 100% utilization, tightening available liquidity. In response, risk managers implemented emergency freezes and adjusted risk parameters to manage exposure and stabilize affected markets.
Aave founder Stani Kulechov described the episode as a sign of resilience, pointing to the protocol’s ability to operate despite stress from external incidents. Independent analysts, however, said the event underscored concentration risks and the potential for connected platforms to transmit shocks across DeFi.
Aave Sees $8.45B in Withdrawals After KelpDAO rsETH Bridge Exploit Triggers DeFi Risk Response
2026-06-19 15:05:16
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