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After KelpDAO suffered a $292 million cyber attack, Aave and its partners are coordinating a large-scale recovery effort across the DeFi space to bridge the funding gap and prevent bad debt.
Stani Kulechov, founder of Lido Finance, EtherFi, and Aave, is one of the advocates promoting the use of Ether (ETH) to make up for these funding shortfalls.
Previously, an attacker created an insecure rsETH token and used it to borrow Ether from Aave, causing the protocol to lose collateral and triggering a wave of withdrawals. $AAVE3L