Arbitrum DAO Approves $70 Million Transfer to DeFi United Fund
The Arbitrum L2 network community has endorsed the transfer of 30,765 ETH, valued at $70 million, to the DeFi United fund.Aave is a lending DeFi protocol that allows borrowing and lending of crypto assets with variable and stable interest rates.
Arbitrum DAO Approves $70 Million Transfer to DeFi United Fund
The Arbitrum L2 network community has endorsed the transfer of 30,765 ETH, valued at $70 million, to the DeFi United fund.
Aave Liquidates Hacker Kelp’s Positions
The leading lending protocol Aave has liquidated the remaining positions of hacker Kelp in rsETH as part of the approved recovery plan.
Lawyers Reclassify North Korean Hack of Kelp as Credit Fraud
Lawyers for North Korean victims have changed their legal argument in the dispute over 30,766 ETH, which the Arbitrum team froze after the Kelp hack.
Aave Seeks Court Order to Release 30,000 ETH Seized by Hackers
The Aave team filed an emergency motion in a US federal court to lift the freeze on 30,766 ETH blocked by Arbitrum after the Kelp hack.
Arbitrum DAO to Vote on $71 Million Transfer to DeFi United Fund
The governance of the L2 network Arbitrum has initiated a vote on transferring 30,766 ETH (~$71 million) to the DeFi United fund, established to aid the sector's recovery following the Kelp hack.
LayerZero Commits 10,000 ETH to DeFi United Initiative
The omnichain protocol LayerZero has joined the DeFi United initiative. The project will donate a total of 10,000 ETH (~$23 million).
DeFi United Initiative Raises Over $300 Million Following Kelp Hack
The total donations for ecosystem recovery following the attack on Kelp have exceeded 132,704 ETH (over $302 million).
Community Raises Over 100,000 ETH for Aave Recovery
The DeFi United initiative, aimed at aiding the ecosystem's recovery following the attack on Kelp, has raised over 100,000 ETH (~$230 million). This amount nearly covers the damage caused by the hack, which was approximately $290 million.
DeFi protocols muster tens of thousands of ETH to shore up Aave
Aave has joined leading DeFi platforms to stabilise markets after the Kelp attack, launching DeFi United.
Aave Experiences Over $16 Billion in Deposit Outflows in Days
Following the Kelp hack, deposits in the leading lending protocol Aave dropped by 35% — from $45.8 billion to $29.6 billion, noted on-chain analyst EmberCN.
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