Aave Sees $300 Million Surge in Borrowing Following KelpDAO Exploit, Indicating Liquidity Crisis
The aftermath of the KelpDAO hack has caused a significant impact on stablecoin markets, with users on Aave borrowing around $300 million against their USDT deposits in the first 24 hours after the attack, according to data from Chaos Labs. This sudden surge in borrowing is not driven by demand, but rather by users' inability to withdraw their funds due to maxed-out stablecoin pools. As a result,…
April 20, 2026, 9:27 a.m.