Aave’s supplied balance tanked after the Kelp DAO bridge exploit, as users pulled funds amid uncertainty over how much of the shortfall the protocol will absorb.
Aave, the largest decentralized lending protocol, has seen around $15 billion in deposits withdrawn since the Kelp Dao exploit on Saturday.
Total value supplied to Aave fell from $45.8 billion on Saturday to $30.8 billion on Wednesday, according to Aavescan data.
The decline followed an attack that drained about 116,500 restaked Ether (rsETH), worth roughly $293 million, from Kelp DAO’s LayerZero-powered rsETH bridge. The exploiter then used part of the stolen funds to borrow on Aave.
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