Kelp
SparkLend Sees Over $1B in Deposits Since Kelp Exploit as Aave TVL Plunges
Aave TVL has dropped by $10B since the Kelp attackers used the protocol to borrow $190 million in WETH, depositing unbacked rsETH.
Aave Partially Unfreezes WETH After Kelp Bridge Exploit
After attackers deposited rsETH from an exploited Kelp bridge and borrowed Wrapped ETH, Aave had frozen WETH across multiple markets.
Aave Models $124M to $230M in Bad Debt From Kelp Exploit
In a detailed incident report, Aave service providers quantified the protocol's exposure for the first time and outlined two scenarios depending on how Kelp DAO allocates the loss. LayerZero and Kelp continue to blame each other for the compromised bridge configuration.
Ethereum Liquid Restaking Sector Slumps as Incentives Dry Up
TVL across Ethereum restaking protocols has dropped 37% from its December 2024 peak.
