AAVE Price Plummets By 26%: $9 Billion Net Outflows Traced To Kelp DAO Hack

A $292 million hack tied to restaking protocol Kelp DAO has rippled through decentralized finance (DeFi) lending and market confidence far beyond the original incident, with Aave emerging as one of the hardest-hit examples. Over the weekend, Aave’s native token (AAVE) fell by about 26%, while the protocol also saw a sharp decline in total value locked (TVL) and continued outflows that intensified the downturn. Kelp DAO Hack Sparks Aave Crisis The chain of events began with the attacker draining