A $300 million borrowing spike on Aave signals liquidity crunch after exploit
The aftershocks of the Saturday’s KelpDAO hack are spreading through stablecoin markets in ways that were not immediately obvious. Int he first 24 hours post the attack, users on Aave borrowed approximately $300 million against their tether deposits of stablecoin tether USDT$1.0002 on the platform, according to Chaos Labs data. The borrowing spike isn’t a…