Aave and Compound Release Plan to Recover from $290M Kelp DAO Hack
Aave and Compound, along with DeFi United, have unveiled a technical plan to recover from the $290 million Kelp DAO hack by addressing bad debt and restoring backing for rsETH tokens. The plan involves liquidating hacker positions and recovering approximately 13,000 ETH on Aave and 16,776 ETH on Compound. Major industry players have pledged $303 million in capital and credit to support the recovery effort.
Tickers: $COMP
Topics: Aave Compound DeFi Hack Kelp DAO Recovery Plan rsETH