🤔 OneKey Founder Yishi on Handling the KelpDAO Hack
1. Best case: negotiate with the hacker and offer a 10-15% bounty.
2. If talks fail, let the LayerZero ecosystem fund cover most of the loss.
3. KelpDAO is the weakest; compensate with tokens + future revenue, or sell the whole project to L0 or BMNR.
4. Aave’s Umbrella and stkAAVE serve as the final backstop, but WETH depositors must not take any haircut — otherwise it would trigger repricing across Morpho, Spark, Fluid, Euler, blacklist the LRT sector, and set DeFi back by years.
5. He believes Aave can survive this. #hack link
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1. Best case: negotiate with the hacker and offer a 10-15% bounty.
2. If talks fail, let the LayerZero ecosystem fund cover most of the loss.
3. KelpDAO is the weakest; compensate with tokens + future revenue, or sell the whole project to L0 or BMNR.
4. Aave’s Umbrella and stkAAVE serve as the final backstop, but WETH depositors must not take any haircut — otherwise it would trigger repricing across Morpho, Spark, Fluid, Euler, blacklist the LRT sector, and set DeFi back by years.
5. He believes Aave can survive this. #hack link
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🕵️ DeFiLlama Co-founder 0xngmi on Kelp DAO rsETH Hack – 3 Potential Paths:
- Socialize losses across all users
18.5% haircut → ~$216M bad debt on Aave.
Umbrella covers $55M, Aave treasury covers $85M, leaving $76M gap (can be filled by borrowing or selling ~$51M AAVE from treasury).
- Rug rsETH holders on L2s
Creates ~$341M bad debt on Aave (mainly Arbitrum, Mantle, Base).
No Umbrella coverage — Aave would have to absorb everything.
- Compensate using pre-hack snapshot
Very difficult due to heavy fund flows and pooled liquidity.
Even after Umbrella, remaining loss would still be ~$91M. #hack link
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- Socialize losses across all users
18.5% haircut → ~$216M bad debt on Aave.
Umbrella covers $55M, Aave treasury covers $85M, leaving $76M gap (can be filled by borrowing or selling ~$51M AAVE from treasury).
- Rug rsETH holders on L2s
Creates ~$341M bad debt on Aave (mainly Arbitrum, Mantle, Base).
No Umbrella coverage — Aave would have to absorb everything.
- Compensate using pre-hack snapshot
Very difficult due to heavy fund flows and pooled liquidity.
Even after Umbrella, remaining loss would still be ~$91M. #hack link
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🐳 The OTC whale who previously bought 163,405 $ETH ($440M) and 4,000 $cbBTC ($296M) has withdrawn 98,032 $wstETH ($272M) and 3,000 $cbBTC ($221.6M) from Aave.
Affected by the KelpDAO rsETH bridge exploit, he was unable to withdraw $ETH, so he directly swapped 7,438 aEthWETH ($16.83M) into 1,930 $stETH and 5,272 $ETH, taking a loss of 237 $ETH ($540K).
He still has 10,000 $ETH ($22.8M) remaining on Aave. #hack link
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Affected by the KelpDAO rsETH bridge exploit, he was unable to withdraw $ETH, so he directly swapped 7,438 aEthWETH ($16.83M) into 1,930 $stETH and 5,272 $ETH, taking a loss of 237 $ETH ($540K).
He still has 10,000 $ETH ($22.8M) remaining on Aave. #hack link
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🔮 Polymarket In Talks To Raise Money At About $15 Billion Valuation, According To Sources
A valuation at that level would diverge significantly from Kalshi's latest valuation of $22 billion. link
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A valuation at that level would diverge significantly from Kalshi's latest valuation of $22 billion. link
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🥷 DeFi Funds Outflow Spreads to Solana
Following the KelpDAO rsETH hack, the chain reaction has spread from EVM networks to Solana. Several USDC markets on Solana’s leading lending protocol Kamino have experienced sharp surges in deposit APY and utilization rates. The Prime Market’s USDC Reserve, with a scale of $178 million, has reached 100% utilization with zero available liquidity. Additionally, utilization rates in multiple vaults have spiked above 95%, including the Staekhouse USDC Vault and RockawayX RWA USDC. #hack link
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Following the KelpDAO rsETH hack, the chain reaction has spread from EVM networks to Solana. Several USDC markets on Solana’s leading lending protocol Kamino have experienced sharp surges in deposit APY and utilization rates. The Prime Market’s USDC Reserve, with a scale of $178 million, has reached 100% utilization with zero available liquidity. Additionally, utilization rates in multiple vaults have spiked above 95%, including the Staekhouse USDC Vault and RockawayX RWA USDC. #hack link
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🗽 Last week Bitcoin spot ETFs logged $996M inflow, extending streak to 3 weeks.
From April 13 to April 17 (ET), spot Bitcoin ETFs recorded net inflows of $996 million, marking the third consecutive week of net inflows.
Spot Ethereum ETFs saw net inflows of $276 million.
SOL spot ETFs recorded net inflows of $35.17 million, while XRP spot ETFs had net inflows of $55.39 million. link
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From April 13 to April 17 (ET), spot Bitcoin ETFs recorded net inflows of $996 million, marking the third consecutive week of net inflows.
Spot Ethereum ETFs saw net inflows of $276 million.
SOL spot ETFs recorded net inflows of $35.17 million, while XRP spot ETFs had net inflows of $55.39 million. link
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🕵️ LayerZero reported that on April 18, 2026, KelpDAO suffered an exploit resulting in losses of approximately $290M, preliminarily attributed to DPRK’s Lazarus Group (TraderTraitor). The attack poisoned downstream RPCs used by the DVN and, combined with DDoS, forced failover, causing the DVN to validate transactions that never occurred. The incident stemmed from KelpDAO’s 1/1 DVN setup, creating a single point of failure; impact was limited to rsETH with no broader contagion. Affected RPCs have been replaced and the LayerZero Labs DVN is now operational. #hack link
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🔓 According to Tokenomist, major one-time unlocks (over $5M) in the next 7 days include UDS, ZRO, H, XPL, MBG, HYPER, LMTS, INIT, KAITO, SOSO, and MON.
Meanwhile, large linear unlocks (over $1M daily) include RAIN, SOL, CC, TRUMP, and WLD, with total unlock value exceeding $330 million. link
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Meanwhile, large linear unlocks (over $1M daily) include RAIN, SOL, CC, TRUMP, and WLD, with total unlock value exceeding $330 million. link
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💰 Spark delisted rsETH and other low-utilization assets in January, tightening its collateral scope and feature set. This decision was unpopular among ETH looping users and likely caused Spark to lose significant business and revenue to Aave. However, SparkLend still maintains ample ETH withdrawal liquidity under current conditions, while Aave is experiencing liquidity shortages in markets across multiple networks. link
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🏦 Analyst from Moody's agency states that stablecoins do not pose a threat to banks in the near future. #stablecoin link
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🕵️ A wallet 0x3CEE, linked to Matrixport, withdrew 6,382.5 $ETH ($14.5M) from #OKX over the past hour after a year of inactivity.
The wallet now holds 18,383 $ETH ($41.75M). link
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The wallet now holds 18,383 $ETH ($41.75M). link
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🇸🇬🕵️ #AI Singaporean company Cobo is launching an agent wallet with security mechanisms for conducting operations on the blockchain under AI management. link
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🙅 $KERNEL added to caution trading on Upbit spot link
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🇺🇸💵 250,000,000 $USDC (249,902,625 USD) minted at USDC Treasury link
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