The aftershocks of the Saturday's KelpDAO hack are spreading through stablecoin markets in ways that were not immediately obvious. A massive exploit of KelpDAO's rsETH token led an attacker to drain about $292 million in value, primarily by depositing unbacked tokens into Aave and borrowing real assets against them. In the 24 hours after the hack, whales rapidly pulled more than $6 billion from Aave, pushing major pools like ETH, USDT and USDC to 100 percent utilization and effectivel…
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