Aave TVL Slides 31.7% to About $18B After KelpDAO Hack Triggers Bad-Debt Fears

Aave's total value locked (TVL) has fallen sharply in the wake of the KelpDAO exploit, as large holders pulled funds to reduce exposure. BlockBeats reported that the incident left Aave with roughly $177 million to $200 million in bad debt. DefiLlama data show Aave's TVL has dropped about 31.7% from roughly $26.4 billion before the event to around $18 billion.