Yesterday, the rsETH exploit caused Defi's top protocol, Aave, to likely face over $200M in bad debt. After all, just looking at the amount the hacker has already taken out, it's reached $250M. The Aave protocol itself isn't really the issue, but it can't avoid the fact that some of the collateral on it has 'pig teammates.' @KelpDAO is mainly responsible this time, but it’s useless—they definitely don’t have that much money. Aave does have Umbrella’s Defi insurance to cover part of the losses, but the total insurance fund is only $80M, which is definitely not enough. So, folks who have money stored in Aave will probably take some losses. First Drift lost $200M, now Aave got drained for nearly $300M—Defi is becoming riskier and riskier. After all, there aren’t many places left on-chain with money. If you’re playing around in Defi these days, make sure to be extra cautious.