The Lazarus Group's recent attack on the KelpDAO bridge has unsettled the Ethereum community. The attackers minted approximately $300 million worth of rsETH and stole $228.21 million worth of ETH from AAVE and Compound. Ethereum's price remained at [price] on April 13.100%Yes, because the price is above $1,800.
Market response
In response to this attack, traders are closely monitoring the stability of Ethereum. On April 13, the price of Ethereum broke through $1,800. Current support levels are at 100%, indicating no immediate panic. However, this exploit has indeed raised concerns about potential bad debts within AAVE, which could impact Ethereum’s future price movement. Market trading volume has not yet shown significant changes, suggesting that traders are currently in a wait-and-see mode.
Why is this important?
The connection to the Lazarus Group and the $228.21 million stolen could trigger market volatility. Confidence in Ethereum maintaining a price above $1,800 remains, but this depends on whether DeFi platforms like AAVE disclose additional vulnerabilities or bad debts. The lack of trading volume suggests traders are still processing the impact of the attack rather than pricing in the risk. If further details on AAVE’s exposure are revealed, its term structure could change rapidly.
What are you looking at?
Closely monitor statements from AAVE and LayerZero regarding this vulnerability incident. Any clarification regarding potential bad debt or system flaws could rapidly impact market sentiment. If Ethereum price falls below a key support level, it may signal a shift in trader confidence.
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