DeFi protocols muster tens of thousands of ETH to shore up Aave

Aave leads DeFi United to backstop rsETH after Kelp attack.

The leading lending protocol Aave has joined forces with major DeFi platforms to stabilise the situation following the attack on Kelp. The projects launched the DeFi United initiative.

Aave service providers have been leading the DeFi United effort to restore rsETH’s backing since the April 18 incident.

We believe ecosystem collaboration matters most in moments like this, and our priority is achieving the strongest possible available outcome for users.… https://t.co/e4fiS6yTxv

— Aave (@aave) April 23, 2026

«Мы считаем, что сотрудничество участников экосистемы важнее всего в такие моменты, и наш приоритет — достичь наилучшего возможного результата для пользователей», — говорится в сообщении. 

The aim is to restore the backing of the rsETH token, which was at the epicentre of the hack.

The Lido team has proposed to the DAO allocating up to 2,500 stETH (about $5.8m) to cover the shortfall in wrapped ether.

«Наша экосистема напрямую заинтересована в скоординированном и точечном ответе. Бездействие, вероятно, увеличит потери вкладчиков хранилища EarnETH и усилит негативные последствия для связанных с stETH продуктов и для площадок ликвидности», — подчеркнули авторы. 

The EtherFi Foundation plans to contribute 5,000 ETH (~$11.5m) to assist Aave.

The EtherFi Foundation is proposing to contribute 5k ETH to the rsETH dedicated relief vehicle. This vehicle will protect users and prevent bad debt across DeFi.

More details in the proposal: https://t.co/EkEWlt49Dx

— ether.fi Foundation (@ether_fi_Fdn) April 23, 2026

Aave’s chief executive and founder, Stani Kulechov, also announced a personal contribution of 5,000 ETH to DeFi United.

Aave is my life’s work and we’re working nonstop to find the best possible outcome for users.

I’m personally contributing 5000 ETH to DeFi United as we continue working together with partners on formalizing more commitments. I’m working to see this resolved and market conditions…

— Stani (@StaniKulechov) April 23, 2026

Golem Foundation has allocated 1,000 ETH. The team behind the L2 network Mantle is discussing extending a three-year loan of 30,000 ETH to Aave DAO—secured by tokens and 5% of the protocol’s revenues.

Following this week’s rsETH incident involving @KelpDAO and @LayerZero_Core, a proposal has been put forward for Mantle to contribute a loan facility to @aave‘s coordinated relief effort.

The loan would form part of a wider coordinated framework, structured to minimize…

— Mantle (@Mantle_Official) April 24, 2026

Ethena, LayerZero, Ink Foundation, Tydro, Frax Finance have joined the effort.

Aave metrics

Meanwhile, the lending protocol’s TVL has fallen to $14bn. Before the breach, it exceeded $26bn.

Since the attack, deposits on Aave have dropped by $17.2bn—to $28.6bn, noted on-chain analyst EmberCN. He said outflows stopped after DeFi United launched.

在 Aave 协调建立 “DeFi United” 用于恢复救助，并获得 3 万 ETH 借款、1.35 万 ETH 捐款后，对信心恢复确实起到了比较明显的效果：我看最近几个小时里 Aave 上的资金已经没有再继续流出了。

Aave 上的总存款量现在是 $286 亿，比 rsETH 事件前减少了 $172 亿。如果资金不再继续流出了，那么 rsETH… https://t.co/u51Te19xD0 pic.twitter.com/mLk3450Srb

— 余烬 (@EmberCN) April 24, 2026

AAVE reacted to the news by rising: over the past 24 hours its price has climbed by nearly 2%. At the time of writing, the token trades around $93.3.

The DeFi coalition has won community support.

The problem with philosophical bitches is they’re too busy dreaming about the worst possible state to ever build a better world.

Thank you to everyone who’s stepped up to DO THINGS.

Proud as fuck to watch this unfold. 🥹

DeFi United. DeFi Wins. 💖

— Tay 💖 (@tayvano_) April 23, 2026

«Те, кто вечно философствуют, слишком погружены в мечты о катастрофах, чтобы построить лучшее будущее. Спасибо тем, кто решился на действия. Горжусь, наблюдая за всем этим», — написала разработчица MetaMask Тейлор Монахан. 

On April 21, Arbitrum’s security council took “emergency measures” and froze 30,766 ETH (~$71.2m) stolen from Kelp.