On April 18, an attacker exploited KelpDAO’s LayerZero-powered cross-chain bridge to release 116,500 rsETH ($292M), roughly 18% of the supply.
Rather than dumping the tokens in an illiquid market, the attacker deposited 89,567 rsETH into Aave as collateral, borrowing ETH and WETH across Ethereum and Arbitrum.
Aave rsETH and wrsETH markets
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TGA just rolled over hard, down 11.7% to $748B from the ~$905B peak and the rolling correlation with BTC is sitting at -0.57 / -0.32 / -0.56 across 30/90/365d windows