The AAVE token fell 16% and deposits fled the protocol after attackers used drained rsETH as collateral to borrow wrapped ether, leaving Aave to quantify how much bad debt it is now carrying. Aave’s total value locked plunged by about $6.6 billion and its token fell 16% after attackers used $292 million in stolen rsETH from Kelp’s bridge as collateral on Aave V3. The exploit, which did not compromise Aave’s own contracts, left roughly $196 million in Aave-specific bad debt concentrated in the d…
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