POPA ReconAave lost $11B in TVL after $300M KelpDAO Hack
Aave lost $11B in TVL after $300M KelpDAO Hack Aave's TVL collapsed from $26B to $15B in a matter of days, a brutal $11B exodus triggered by the $292M KelpDAO bridge exploit. The hack created roughly $200M in bad debt across Aave's rsETH markets, pushing core pools to 100% utilization and leaving an estimated $5B stuck as whales raced to pull liquidity before the rsETH collateral could become insolvent. TVL that had peaked at $45B in September 2025 is now down 66% from ATH, marking the largest single-protocol liquidity drain since the Terra/Luna collapse in 2022. Data source 🔗 Defillama…
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