We’ve watched a lot of DeFi blowups. This one’s different. Nobody hacked Aave last weekend. $196M walked out the door anyway. The attacker forged a message on a bridge next door, minted $292M of fake rsETH, and posted it to Aave as collateral. Aave’s code worked exactly as written. That’s the problem. [ANNOUNCEMENT]
← All insights
Signals
The $196M hole Aave didn't code
This weekend, $6.28B walked out of Aave in under 24 hours. Aave is the biggest lending protocol in DeFi, with $26B in deposits.




