Overview
- A blockchain analytics tally from Arkham puts the DeFi United fund at roughly $160 million toward a $200 million goal, led by Mantle and Aave DAO pledging 55,000 ETH worth about $127 million.
- The Solana Foundation said it placed part of its treasury in Tether on Aave for the first time to back the effort and plans to bring Aave’s governance token to the Solana network.
- Aave founder Stani Kulechov said he personally added 5,000 ETH to the pool that aims to refill backing for rsETH, a staked-ether token used as collateral on Aave.
- Arbitrum’s Security Council froze 30,765 ETH tied to the incident, and Aave has proposed that Arbitrum’s DAO send those funds to the DeFi United recovery address, with any release subject to a vote.
- The shortfall stems from a KelpDAO–LayerZero setup that let attackers mint 116,500 unbacked rsETH, use it to borrow real assets, and trigger heavy withdrawals on Aave that left more than $190 million in bad debt by some counts.