An attacker exploited a vulnerability in Kelp DAO's cross-chain bridge, stealing $293 million in unbacked rsETH. The incident caused significant losses for DeFi platforms, with Aave facing up to $236 million in bad debt and substantial impacts on the market.

Gate News message, whale "ThisWillMakeYouLoveAgain" sold 29,400 AAVE for 1,171 ETH ($2.73M), realizing a loss of over $6M. The whale initially traded AAVE for $11.03M and still holds 14,993 AAVE ($1.39M). Address: 0xbcda26b7c6fe36b4f97c21a57807817b06e15c77.

Gate News message, the KelpDAO exploiter borrowed over 82,600 ETH ($195M) from Aave using RSETH as collateral, resulting in bad debt appearing on Aave. Following this incident, numerous whales withdrew funds from Aave, causing its TVL to decline from $26.396B to $20.114B, a decrease of $6.28B.

Justin Sun deposited 53,660 ETH worth $125 million into Spark, after withdrawing the tokens from Aave. He now holds about $2.13 billion in assets across Sky and Spark, along with $380 million in Aave.

Gate News message, AAVE token declined more than 18% today after the KelpDAO exploit created bad debt on Aave protocol. Multiple whale addresses conducted large-scale sell-offs: smaugvision sold 20,015 AAVE for 2.06M USDC at an average price of $103; Whale 0xFC56 sold 20,000 AAVE for 2.05M USDC at a

Spark Protocol's strategy of delisting low-usage assets and tightening collateral has faced initial backlash but proved wise during market turmoil. While maintaining higher interest rate caps, SparkLend ensures liquidity, unlike Aave, which now faces significant risks.

Gate News message, according to onchain data, the Aave multisig guardian has frozen WETH on lending markets. The guardian executed the freeze action through its multisignature wallet mechanism.

Marc Zeller of Aave announced his proposal to end the Aave-Chan Initiative Frontier project. He will exit his validator roles, return ETH to protect wETH depositors, and forgo potential income to minimize user impact. Zeller has significantly influenced Aave's incentive mechanisms and plans to exit Aave in July.

Gate News message, according to Onchain, the Aave Multisig Guardian has frozen rsETH on lending markets. This action has been implemented across Aave's lending platforms.

Lido's LDO buyback program prompted a significant purchase of 4.5 million LDO tokens by a whale for $1.86 million, alongside 10,000 AAVE tokens for $1.15 million, sourced from Wintermute and FalconX, respectively.