Kelp Protocol Hacked for $293 Million, Funds Used as Collateral on Aave
The Kelp Protocol was hacked for approximately $293 million on April 18, 2026, with the stolen funds used as collateral to borrow $195 million from Aave. Aave froze the rsETH markets but confirmed its own contracts were not exploited. The incident has sparked frustration among crypto users and raised concerns about DeFi security.
Topics: Aave crypto hack DeFi Kelp DAO LayerZero security breach