🥷 #ETH The ENS-to-web gateway ethlimo published a post-mortem on Saturday tracing its Friday night DNS hijack to a social engineering attack against domain registrar EasyDNS.
EasyDNS publicly owned the breach, calling it the first successful social engineering attack against a customer in the registrar’s 28-year history. #hack
EasyDNS publicly owned the breach, calling it the first successful social engineering attack against a customer in the registrar’s 28-year history. #hack
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🕵️ RaveDAO-linked addresses sell approximately 23 million $RAVE triggering a roughly 35 percent short-term price drop
According to Arkham, a blockchain analytics platform, addresses linked to RaveDAO transferred 10 million RAVE (approximately $10.57 million) and 12.996 million $RAVE (approximately $13.74 million) to Bitget around four hours ago, totaling about 22.996 million $RAVE (approximately $24.31 million).
Following the transfers, $RAVE experienced significant selling pressure, with its price dropping sharply and declining by around 35% over the past 24 hours.
According to Arkham, a blockchain analytics platform, addresses linked to RaveDAO transferred 10 million RAVE (approximately $10.57 million) and 12.996 million $RAVE (approximately $13.74 million) to Bitget around four hours ago, totaling about 22.996 million $RAVE (approximately $24.31 million).
Following the transfers, $RAVE experienced significant selling pressure, with its price dropping sharply and declining by around 35% over the past 24 hours.
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🤔 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
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
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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
- 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
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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
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
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