TechFlow News: On April 20, according to on-chain analytics platform Lookonchain (@lookonchain), following the KelpDAO attacker’s use of rsETH as collateral to borrow over 82,600 ETH (approximately $195 million) from Aave—resulting in bad debt—numerous large whales have continuously withdrawn funds from Aave. Consequently, Aave’s TVL plummeted from $26.396 billion to $17.947 billion within two days, a decline of $8.45 billion. Meanwhile, the total TVL across all-chain DeFi protocols also fell from $99.497 billion to $86.286 billion, decreasing by approximately $13.21 billion over the same two-day period.
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