Aave Faces $6 Billion Deposit Withdrawal Following Kelp Hack, Exposing DeFi Lender's Structural Vulnerabilities
Aave has witnessed a staggering $6.6 billion exodus of deposits, not due to a direct hack on the platform. The total value locked in the protocol plummeted from $26.4 billion on April 18 to approximately $20 billion by Sunday morning, according to DefiLlama. The AAVE token value dropped 16% to $92, with daily fees surging to $1.99 million as liquidations swept through the weekend. Depositors are …
April 19, 2026, 2:56 p.m.