Aave raises nearly 80% of the $200 million it needs to cover bad debt left by Kelp DAO exploit
CoinDesk
Aave has successfully raised $160 million, 80% of its $200 million goal, to address bad debt caused by a significant Kelp DAO exploit.Summary
Aave is nearing its $200 million recovery goal, having secured $160 million to cover bad debt resulting from a $292 million exploit involving Kelp DAO's rsETH tokens. The recovery initiative, known as DeFi United, has received significant contributions from Mantle and Aave DAO, totaling $127 million. Additionally, Aave founder Stani Kulecho contributed 5,000 ETH to the effort. This initiative aims to restore stability to the platform after the exploit triggered a $10 billion deposit run and significant market turmoil.
(Source：CoinDesk)