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Aave: The rsETH market on V3 and V4 has been frozen, and potential bad debts are being evaluated.

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PANews
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3 hours ago
AI summarizes in 5 seconds.

PANews April 19 news, regarding the KelpDAO attack incident, Aave stated that the rsETH market on Aave V3 and V4 has been frozen, and this asset currently does not have any lending capability. Aave V3 and V4 no longer hold rsETH. Aave's contracts were not attacked, and this incident is related to rsETH. The freezing is due to the attack on the Kelp DAO rsETH bridge vulnerability. Freezing the rsETH market is to prevent new rsETH deposits and collateralized loans during the assessment period. The team is reviewing the rsETH borrowing information that occurred on Aave after the vulnerability attack and will share more details as soon as possible. If the protocol accumulates bad debts due to this incident, the team will explore ways to compensate for the losses.

Previous news, Kelp DAO cross-chain bridge was attacked, approximately $292 million rsETH was transferred out.

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