Apr 20
OTC Whale Pulls $272M in wstETH and $222M in cbBTC From Aave After Exploit Grows
OTC whale withdrew $272M wstETH and $222M cbBTC from Aave as rsETH exploit pressure pushed ETH utilization to 100%.
➤ An OTC whale withdrew $272M in wstETH and $222M in cbBTC from Aave due to pressure from the KelpDAO rsETH exploit. ➤ The exploit led to Aave's ETH pool reaching 100% utilization, making withdrawals difficult and causing a significant price drop in AAVE. ➤ The event highlights liquidity risks and smart contract vulnerabilities within DeFi protocols, impacting major asset holders and the broader market.