Overview
- Aave’s rescue pool has reached about $160 million toward a $200 million target, according to Arkham, with Mantle and Aave DAO providing roughly 55,000 ETH as the largest share.
- The Solana Foundation said it put part of its Tether treasury to work on Aave for the first time to back the effort and plans to bring Aave’s AAVE governance token to the Solana network.
- Crypto Briefing reported more than $230 million in pledges for the DeFi United relief effort, with large commitments from Arbitrum DAO, Mantle, and Aave DAO pending governance approval, plus 5,000 ETH pledged by Aave founder Stani Kulechov.
- The crisis began when a KelpDAO integration with LayerZero let an attacker mint 116,500 unbacked rsETH, use it as collateral on Aave, and pull out roughly $190 million in real assets, which then spurred heavy withdrawals and left impaired collateral.
- Recovery efforts aim to recapitalize rsETH and cover Aave’s bad debt, a process that now hinges on on‑chain votes to release pledged funds and could shape how DeFi handles cross‑chain bridge risk going forward.