{"id":41423,"date":"2026-04-19T18:15:13","date_gmt":"2026-04-19T18:15:13","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=41423"},"modified":"2026-04-19T18:15:13","modified_gmt":"2026-04-19T18:15:13","slug":"6280000000-abruptly-exits-ethereum-based-lending-platform-as-cross-chain-hack-triggers-mass-withdrawals","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=41423","title":{"rendered":"$6,280,000,000 Abruptly Exits Ethereum-Based Lending Platform As Cross-Chain Hack Triggers Mass Withdrawals"},"content":{"rendered":"

\"\"<\/p>\n

The total value locked in one of crypto\u2019s most trusted decentralized lending platforms is plummeting after hackers successfully attacked a third-party cross-chain staking protocol.<\/p>\n

According to LookonChain, Aave has witnessed<\/a> its TVL plunge by $6.28 billion in under 48 hours after KelpDAO\u2019s LayerZero-powered cross-chain bridge was compromised and about $292 million of its rsETH token were minted out of thin air.<\/p>\n

\u201cDue to the KelpDAO exploiter borrowing over 82,600 ETH<\/span>\u00a0($195M) from Aave<\/span> using rsETH<\/span> as collateral, bad debt has appeared on Aave.<\/span><\/em><\/p>\n

Many whales have withdrawn funds from Aave<\/span>, causing its TVL to drop from $26.396B to $20.114B, a decline of $6.28B. <\/span><\/em><\/p>\n

Major withdrawals include:<\/span><\/em><\/p>\n

\u2022 MEXC withdrew $431 million
\n\u2022 Whale 0x7CD0 (possibly linked to Nonco) withdrew $405.7 million
\n\u2022 Abraxas Capital withdrew $392 million<\/span><\/em><\/p>\n

Aave itself was not hacked, but the protocol is now exposed to significant bad debt from the now-worthless rsETH collateral.\u201d<\/em><\/p>\n

Aave quickly froze rsETH markets on V3 and V4 to prevent further borrowing\/deposits, and the team says it\u2019s now exploring ways to offset any deficit.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

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The post $6,280,000,000 Abruptly Exits Ethereum-Based Lending Platform As Cross-Chain Hack Triggers Mass Withdrawals<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The total value locked in one of crypto\u2019s most trusted decentralized lending platforms is plummeting after hackers successfully attacked a third-party cross-chain staking protocol. According to LookonChain, Aave has witnessed its TVL plunge by $6.28 billion in under 48 hours after KelpDAO\u2019s LayerZero-powered cross-chain bridge was compromised and about $292 million of its rsETH token […]<\/p>\n","protected":false},"author":1,"featured_media":41424,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[47],"tags":[],"class_list":{"0":"post-41423","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ethereum"},"yoast_head":"\n$6,280,000,000 Abruptly Exits Ethereum-Based Lending Platform As Cross-Chain Hack Triggers Mass Withdrawals - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=41423\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$6,280,000,000 Abruptly Exits Ethereum-Based Lending Platform As Cross-Chain Hack Triggers Mass Withdrawals - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"The total value locked in one of crypto\u2019s most trusted decentralized lending platforms is plummeting after hackers successfully attacked a third-party cross-chain staking protocol. 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