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Aave to Review All V3 Assets After April rsETH Exploit Cost $190-236M in Borrowed Funds

GateNews
Security IncidentsProject ProgressOn-Chain DataRegulation & Policy
AAVE-3.82%
ZRO-2.43%
ETH0.2%
According to CoinDesk, Aave announced this week it will review all assets listed on V3 and rewrite its listing standards following an April exploit involving rsETH, KelpDAO's liquid restaking token. An attacker exploited a 1-of-1 verifier configuration in KelpDAO's LayerZero bridge to forge a cross-chain message, releasing 116,500 unbacked rsETH on Ethereum. The attacker then used approximately 89,567 rsETH on Aave to borrow between $190 million and $236 million, creating potential bad debt for wrapped ether depositors. Aave said losses stemmed from LayerZero message verification rather than its smart contracts. In response, Aave's risk managers have implemented approximately 295 parameter changes across V3 since the exploit, while LayerZero announced it will stop attesting applications using 1-of-1 decentralized verifier setups.
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