Kelp DAO Exploit Sparks Aave Liquidity Crunch, $6.2 Billion Withdrawal Panic

In brief

• Aave users struggled to withdraw funds from Aave after attackers borrowed with stolen rsETH on the platform, spiking a core market’s so-called utilization rate.
• The funds were plundered from a LayerZero-powered bridge, in what onlookers described as DeFi’s biggest exploit so far…