Wu Blockchain (@WuBlockchain): Aave Sees $5.4B ETH Outflows as rsETH Exploit Raises Concerns
Estimated coin impact
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Aave Sees $5.4B ETH Outflows as rsETH Exploit Raises Concerns According to Lookonchain, the Kelp DAO exploit has left Aave saddled with bad debt after the attacker deposited rsETH to drain ETH. This has sparked a massive whale exodus, with over $5.4 billion fleeing the protocol in a panic. Justin Sun alone yanked 65,584 ETH (~$154M) from the platform. Driven by this mass flight, Aave's ETH utilization rate has now maxed out at 100%.