₱75.5B
₱18.4B
₱5,148.52
₱4,857.98
Aave absorbed ₱17.78 billion ($292 million) in losses after hackers exploited Kelp DAO's rsETH bridge, leaving the platform carrying between ₱10.35 billion ($170 million) and $230 million in bad debt. AAVE token crashed to $93.90 as retail traders capitulated while institutional money began accumulating.
Despite April's DeFi crisis that saw Aave lose ₱1.04 trillion ($17 billion) in deposits following KelpDAO's ₱18.42 billion ($300 million) exploit, Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick projects the tokenisation market will reach ₱122.77 trillion ($2 trillion) by 2028.
Han Kim and Yong Kim, relatives of a South Korean minister abducted by North Korean agents in 2000, served a restraining order Friday freezing ₱4.38 billion ($71 million) in crypto that Aave recovered from the Kelp DAO hack. The Kims hold a ₱20.36 billion ($330 million) federal judgment against North Korea from 2015 and claim the stolen assets belong to the regime.
Aave Labs and DeFi United secured Ether commitments to clear ₱15.17 billion ($246 million) in bad debt across Aave and Compound without spreading losses to users after the April 18 Kelp DAO hack.
Days after North Korean hackers stole ₱17.93 billion ($293 million) in rsETH from Kelp DAO on April 18, the DeFi United recovery fund launched to cover Aave's ₱10.83 billion ($177 million) in unrecovered bad debt. Major protocols including Arbitrum DAO, Mantle, and Consensys are pledging tens of thousands of Ether.