Odaily Planet Daily reports: In April this year, KelpDAO’s LayerZero bridge suffered a $292 million exploit, triggering an $8.45 billion deposit run on Aave within 48 hours—the largest decentralized finance (DeFi) capital outflow event to date. Aave founder Stani Kulechov stated that Aave V3’s design withstood market pressure, demonstrating network resilience. However, independent data indicates that Aave’s survival relied primarily on a $300 million emergency rescue, including 25,000 ETH pledged by the Aave DAO and Kulechov’s personal contribution of 5,000 ETH (approximately $8.4 million).
Kulechov attributed the vulnerability to third-party infrastructure rather than the core smart contract, but analysts noted that the incident exposed inadequate risk architecture and insurance mechanisms at Aave, resulting in substantial bad debt on the platform (approximately $123.7 million in wETH). To prevent future bridge failures from triggering systemic runs, Aave V4 will adopt a modular "hub-and-spoke" architecture to enable localized risk adjustment and collateral freezing. (CoinDesk)