Aave chief defends protocol's 'resilience' after $8.45 billion bank run

The founder of the largest DeFi platform blamed "third-party” entities for decentralized finance’s vulnerabilities, while independent data highlights severe gaps in Aave’s own risk architecture. What to know : A $292 million exploit of KelpDAO’s LayerZero bridge in April 2026 triggered an $8.45 billion, 48-hour deposit run on Aave, exposing the vulnerability of major DeFi platforms to bank-run-style stress. Aave survived the crisis only after a chaotic, human-led $300 million emergency bailout, including 25,000 ETH from the Aave DAO and 5,000 ETH from founder Stani Kulechov, despite his public framing of the episode as proof of the protocol’s resilience. In response, Aave is planning a V4 upgrade that will replace pooled token design with a modular hub-and-spoke system intended to localize risk, impose targeted premiums and freeze specific collateral lines to prevent future contagion from bridge failures.