Tech

Aave records $6 billion TVL drop as Kelp hack exposes structural risk at DeFi lender

The AAVE token fell 16% and deposits fled the protocol after attackers used drained rsETH as collateral to borrow wrapped ether, leaving Aave to quantify how much bad debt it is now carrying.

Stylized AAVE logo (CoinDesk)

2026's biggest crypto exploit: $292 million gets drained from Kelp DAO with wrapped ether stranded across 20 chains

An attacker drained 116,500 rsETH, roughly 18% of circulating supply, from Kelp's LayerZero-powered bridge on Saturday, triggering emergency freezes across Aave, SparkLend, Fluid and Upshift.

Cypher Protocol suffers exploit (Clint Patterson/Unsplash)

Bitcoin 'plebs eat first' mining pool Parasite finds its second BTC block

Parasite Pool, which pays 1 BTC to the block finder and splits the rest among all participants, mined block 945,601 on Friday, about 48 days after its first.

Bitcoin mining USB devices on a large USB hub.
Advertisement

More from Tech

Cardano's Charles Hoskinson says Bitcoin's quantum fix is a hard fork that can't save Satoshi's coins

The Cardano founder argues BIP-361 is mislabeled as a soft fork and that its zero-knowledge recovery plan cannot rescue roughly 1.7 million pre-2013 bitcoin, including Satoshi's holdings.

Consensus 2025: Charles Hoskinson, CEO & Founder, Input Output

VerifiedX brings privacy layer to Bitcoin as institutional demand for confidentiality grows

A new zero-knowledge-powered system enables shielded bitcoin transactions, reflecting a broader push across crypto to address the “privacy gap” keeping institutions off public blockchains.

A padlock secures a gate hasp. (Shutterstock)

Wall Street trading-tech is coming to crypto as DoubleZero rolls out high-speed data for Solana

The project, called DoubleZero Edge, offers a real-time feed of raw data from the Solana blockchain, giving traders faster access to information that can influence prices.

Zapper adds NFT and DAO dashboards. (Shutterstock)

Bitcoin's quantum debate splits as Adam Back pushes optional upgrades over forced freeze

The Blockstream CEO told Paris Blockchain Week that Bitcoin should build quantum-resistant upgrades now, a day after Jameson Lopp proposed freezing vulnerable coins instead.

Blockstream CEO Adam Back

Bitcoin devs bet a quantum attacker will play nice with a ‘wait and react’ plan

BitMEX Research proposes a canary system that pays a bounty to the first quantum attacker and activates a network-wide freeze, offering an alternative to a fixed five-year timeline.

CoinDesk