Aave TVL Slides 21.6% to About $20.7B as KelpDAO Hack Spurs Whale Withdrawals

BlockBeats reported on April 19 that the KelpDAO hack left Aave with roughly $177 million to $200 million in bad debt, prompting a wave of whale withdrawals as investors moved to cut risk. DefiLlama data show Aave's total value locked has extended its decline, slipping from about $22 billion earlier in the day to around $20.7 billion. That marks a drop of roughly 21.6% from yesterday's approximately $26.4 billion.