0xChentani131

@ethena @aave How much ETH to be clear?

Ethena has been working closely with affected parties this week in a supporting capacity and is participating with a contribution into @aave's coordinated DeFi relief effort following the rsETH related incident. As part of a broader recovery initiative alongside other ecosystem participants, Ethena's contribution will go towards restoring the rsETH backing in support of an orderly resolution for stakeholders. Aavethena.

@StaniKulechov Maybe AAVE and Kelp?

DeFi United. Who's next?

@aave Bla Bla Bla

Update on rsETH incident: rsETH reserves have been paused across Ethereum Core, Arbitrum, Base, Mantle, and Linea. This was done with the objective of recovering additional funds as the recovery plans progress. We will keep the community updated on the next steps as the efforts continue.

@KelpDAO Bla Bla Bla

Community Update The past few days have been relentless. With the support of our partners, allies and community, discussions are moving in the right direction. We want to address our community directly. We are actively progressing towards a suitable resolution. Kelp was built on the core principle that users will always come first. This has been evident in our initial actions and will continue to be reflected in the updates to come, which we aim to deliver in a way that benefits everyone. Over the past four days, our team, alongside partners and allies, has been operating around the clock and engaging closely with all involved parties. We have made meaningful progress across several paths forward in collaboration with key ecosystem partners. This progress is reflected in concrete actions, including measures taken by the @arbitrum Security Council to freeze stolen funds and the swift involvement of @_SEAL_Org's SEAL 911 force in the initial investigation, providing all parties with clear and impartial insight into what occurred. While not all of this is visible publicly, the work continues steadily and with substance. At present, all our attention and efforts are directed towards safeguarding our users and strengthening the protocol. Moments like this are defining not only for us but for the broader ecosystem. We believe it is our responsibility to pursue the most appropriate outcome for our users. We are grateful for the support and collaboration we have received from partners and the wider community. We will continue to share concrete updates through our official channels as they become available. - Team Kelp

@ether_fi Any comments? x.com/wavey0x/status…

To help users who have funds stuck in Aave, ether.fi's Liquid ETH vault is now accepting $aWETH deposits. LiquidETH has no Aave $WETH exposure.

@LayerZero_Core Take your responsibility! Or industry should avoid any connections with you!

@StaniKulechov Help me withdraw my 100 WETH from Mantle chain, I never ever touched the rETH

The past few days have been intense, but I wanted to give some updates as we continue to work on this. Our priority is our users, and every decision we are making is aimed at an orderly return to normal market conditions and the best possible outcome for everyone involved. Working around the clock, the team has made progress on multiple paths forward with several partners. The Arbitrum Security Council also recovered $70 million in ETH, which could meaningfully reduce the potential exposure, and multiple discussions and solutions are being considered. I am confident we will move towards a strong resolution. Reviewing what happened and learning from it matters. But pointing fingers is not something that gets us to the other side of this. Every bit of my energy right now is focused on the outcome for Aave users and the protocol. Aave has been my life's work, and this is an important moment for DeFi as much as it is for Aave. I am deeply grateful for the support and collaboration we have received from builders and partners across the industry. We’ll get through this together and we’ll continue to publish updates on @aave as they happen.

@_brizal @smykjain Yeah, they changed it. Before it was USDe as well.. RIP

@chentani131 @smykjain its not possible, they only have rsETH as the LST collateral unfortunately.

From high demand of L2 users. We figured out a solution to match ETH loopers and ETH lenders. Now live on Arbitrum & Base! 🌊

@yooeth100k @aave 😂😂😂

@aave Here's a clean short English tweet you can post to @aave: "Hi @aave, I have ETH deposited on your protocol. Is everything operational right now? Can I withdraw normally? Thanks." That's direct and clear. If you want a slightly more detailed version, just say the word.

Update on rsETH incident: WETH reserves on the Ethereum Core V3 market have been unfrozen and users can supply WETH to Ethereum Core V3 again. WETH LTV remains at 0. WETH reserves on Ethereum Prime, Arbitrum, Base, Mantle, and Linea remain frozen. Aave service providers will continue to work on next steps and provide updates accordingly.

@SpecterAnalyst @paoloardoino Please freeze the funds

LayerZero is being used to launder proceeds from the Layerzero/KelpDAO hack. $500K was just moved via LZ. Address: 0x4D5A08A96D644d7CA7F4541E1512a53D55aA5842 Destination: TLTCf565jGgSeCsUhBpWuPhrrHcGGX9ekT 🚶🚶

@cosmos_badkid @aave @StaniKulechov Lol, you trying to save your ass just to not have a cut of a few %? Moreover the drained rETH was deposited to Mainnet, at least try to figure the whole picture, lmao

@chentani131 @aave @StaniKulechov Of course, because other users did not choose to use a layer2

@mETHProtocol But according to last AAVE announcement, WETH holders on Mantle AAVE will eat the highest haircut from 20 to 72% - so why you didn't mentioned that?

mETH Protocol’s Latest Update on the rsETH Incident Recent market activity involving rsETH has led to increased utilization on Aave, temporarily constraining WETH liquidity and affecting withdrawal capacity. mETH has no direct exposure to rsETH. Our Aave allocation consists solely of ETH supplied to the WETH pool as part of the Buffer Pool, with ~64,800 ETH currently allocated. Minting, redemptions, and bridging have been paused as a precaution while the situation is being monitored. User funds remain fully collateralized, with live allocations independently verifiable via our Proof-of-Reserves dashboard: methprotocol.xyz/proof-of-reser… Current actions underway: 1/ Upgrading the DVN configuration for LayerZero bridging with additional safeguards 2/ Coordinating with relevant ecosystem partners to support restoration of normal operations 3/ Additional mETH liquidity has been made available on Bybit in the interim A detailed post-mortem will follow.

@aave @LlamaRisk @Mantle_Official Maybe it's time to help users who chose your chain? At least comment something, we need your help

Update on rsETH incident: @LlamaRisk has published a report outlining the rsETH incident, the immediate actions taken, its impact on Aave, and potential paths forward. All service providers have been working to assess the two potential bad debt scenarios on the Aave protocol. Aave DAO service providers are also leading an effort with ecosystem participants to address any bad debt. This effort already has several indicative commitments from various parties and we are grateful for the strong support we have received so far. We will share further updates as we have them. In the meantime, the full report can be read here: governance.aave.com/t/rseth-incide…

@0xKolten @DeFi_Dad Yes but you have time to read and post comments on X, but don't have time to at least provide any updates to end users, lmao

@DeFi_Dad Hey DeFi Dad, their situations are obviously not comparable and we've been working non-stop with multiple parties to assess potential resolutions. We are sharing facts as we have them.

It is imperative we get a plan announced to move forward with Aave ETH lenders asap. I know making the most strategic move here is top priority but this market is not going to wait for your lawyers to fight for many more days. Study the speed, comms, and decisive action of @0xfluid to make lenders whole less than 24 hours after the Resolv exploit.

@aave And? We know that 20 hours ago, any real updates? What we should wait if ETH deposited in different chains, such as Mantle, Base, etc.?!

Update on rsETH incident: According to our analysis, rsETH on Ethereum mainnet is fully backed. Out of an abundance of caution, rsETH remains frozen across Aave V3 and V4 and exposure to the incident is capped. WETH reserves also remain frozen across affected markets including Ethereum, Arbitrum, Base, Mantle, and Linea. Aave is actively validating information and assessing potential resolutions.

@0xfluid Why Plasma USDT0 is paused?

Fluid has paused markets that could be affected by the ongoing KelpDAO rsETH incident. Fluid has no material exposure to rsETH on L2s and no new borrowings against rsETH happened after the Kelp DAO rsETH bridge exploit. User funds are secure and no action is required. All other Fluid markets are safe and continue to operate as intended. We are monitoring the situation closely and will provide updates as they become available.

@0xWismerhill what about AAVE Mantle?

Useful recap for people who want the full picture: debank.com/profile/0x1F4C… 0x1f4c1c2e610f089d6914c4448e6f21cb0db3adef deposited 53k rsETH on Aave mainnet, borrowed 52,447 variableDebtEthWETH debank.com/profile/0xeBA7… 0xeBA786C9517a4823A5cFD9c72e4E80BF8168129B deposited 26k rsETH on Compound mainnet to borrow 12k WETH, then withdrew 13.5k rsETH from Compound mainnet, then deposited 5k rsETH on C mainnet to borrow 3.9k wstETH. Then bridged 12k rsETH to Arbitrum, deposited on Aave Arbi and borrowed 12.3k WETH. debank.com/profile/0xcbb2… 0xcbb24a6b4dafaaa1a759a2f413ea0eb6ae1455cc deposited 201 rsETH on Euler to borrow 197 WETH. Deposited 500 rsETH on Euler for 11 BTC. Then bridged 9299 rsETH to Arbitrum and deposited on Aave Arbi, then borrowed 4308 WETH and 8 wstETH. debank.com/profile/0xBb6A… 0xbb6a6006eb71205e977eceb19fcad1c8d631c787 swapped 5230 rsETH to ETH on mainnet, then bridged 770 rsETH to Arbi. Deposited 770 rsETH on Aave Arbi and borrowed 758 ETH. debank.com/profile/0x8d11… 0x8d11aeac74267dd5c56d371bf4ae1afa174c2d49 deposited 400 rsETH on Aave Mainnet, borrowed 393 ETH. Bridged 4600 rsETH to Arbi. Deposited 1024 rsETH on Aave Arbi and borrowed 813 wstETH and 28 WETH. Tried bridging 3,575.5711 rsETH to Avalanche but was frozen. debank.com/profile/0x1b74… 0x1b748b680373a1dd70a2319261328cab2a6f644c deposited 8k rsETH on Aave Arbi and borrowed 7877 ETH on Aave Arbi. debank.com/profile/0xe9e2… 0xe9e2f48bb0018276391aec240abb46e8c3cad181 deposited 4500 rsETH on Aave Arbi and borrowed 4430 WETH.

@Re7Labs @ResolvLabs Ya ya ya, you said same when xUSD crashed, just quite the market, "risk curators" LMAO

Re7 Labs - Incident Update | Resolv / USR We are aware of the @ResolvLabs exploit that enabled a malicious actor to mint undercollateralized USR. Our flagship strategy - mRe7YIELD - has zero exposure to any of today’s attacks and continues to be unaffected by severe exploits and adverse market conditions. 𝗧𝗶𝗺𝗲𝗹𝗶𝗻𝗲 𝗢𝗳 𝗘𝘃𝗲𝗻𝘁𝘀 Our internal monitoring systems flagged this in real time, and at 2.46am UTC we were among the first to notify partners, platforms and competitors across DeFi to enable swift risk mitigation. Shout out to @HypernativeLabs who continue to be an excellent partner in real time risk management. 𝗢𝘂𝘁 𝗼𝗳 𝘁𝗵𝗲 𝟭𝟴𝟰 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 𝘄𝗲 𝗰𝘂𝗿𝗮𝘁𝗲, 𝗼𝘂𝗿 𝗲𝘅𝗽𝗼𝘀𝘂𝗿𝗲 𝗶𝘀 𝗶𝘀𝗼𝗹𝗮𝘁𝗲𝗱 𝘁𝗼 𝗼𝗻𝗹𝘆 𝟮 𝘀𝗺𝗮𝗹𝗹 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 𝗼𝗻 𝗠𝗼𝗿𝗽𝗵𝗼 𝘄𝗵𝗲𝗿𝗲 𝗨𝗦𝗥 𝗶𝘀 𝗹𝗶𝘀𝘁𝗲𝗱 𝗮𝘀 𝗰𝗼𝗹𝗹𝗮𝘁𝗲𝗿𝗮𝗹. At 3am UTC we initiated a series of tx's on the Re7 USDC vault on Morpho Base that set caps to 0, flow caps to 0, and removed the impacted markets from the supply queue. At 3:02 am UTC we initiated a series of tx's on the Re7 USDC Core vault on Morpho mainnet that set caps to 0, flow caps to 0, and removed the impacted markets from the supply queue. 𝗠𝗼𝗿𝗽𝗵𝗼 𝗗𝗼𝗻𝗮𝘁𝗶𝗼𝗻 𝗔𝘁𝘁𝗮𝗰𝗸 In relation to basescan.org/tx/0xc8acd3f95…, a donation attack on Morpho was identified - also flagged in real time by our alerting infrastructure. This involved abuse of Morpho's supplyOnBehalf mechanism, which allowed the attacker to force-allocate USDC into the USR/USDC market by supplying directly to Morpho on behalf of a vault address. This bypasses Morpho’s vault supply queue and supply cap controls entirely, as those restrictions govern vault-level allocation but do not restrict direct calls to the underlying Morpho contract. We have currently mitigated this by removing all markets from the supply queue, which we think prevents further exploitation of this attack vector. We immediately disclosed the attack to Morpho - including the steps we took to contain it - and they have since advised curators to take equivalent protective action. We are actively monitoring the situation and are in contact with all relevant parties to contain further exposure across DeFi.