Standard Chartered: KelpDAO rsETH Theft Shook Aave Metrics but Didn't Undermine DeFi

Standard Chartered said in a research note cited by The Block that roughly $292 million stolen from KelpDAO's rsETH made its way into Aave, triggering a sharp pullback in activity on the lending protocol. Aave deposits fell by $17 billion, about 38%, while active loans declined $5.5 billion, around 31%. Despite the hit to Aave's balances, the bank argued the broader DeFi framework remained intact. Aave founder Stani Kulechov and other parties have pledged more than $300 million in funding aimed at restoring interest rates and rebuilding net deposits.