Curve Founder: KelpDAO Attack Causes Bad Debt on Aave, Exposing Risks of Non-Isolated Lending
2026-04-19 02:35
Odaily reported that Curve founder Michael Egorov stated that the attack on KelpDAO resulted in approximately $292 million in losses and created bad debt on Aave, highlighting the potential risks of the current "non-isolated lending" model.
He pointed out that while this model offers good scalability, it carries higher risks and requires enhanced risk management. He also mentioned that fully isolated or hybrid models could be viable alternatives and believes that the "hub and spoke" architecture proposed for Aave v4 may drive lending models towards a safer direction.
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