Aave: rsETH Recovery Plan Has Liquidated Hacker Positions and Approved Transfer of $71 Million in ETH

Odaily reports that Aave posted on platform X, stating that the second phase of the technical solution for the rsETH incident recovery has made progress. On May 6, eight hacker positions on Aave V3 were liquidated, and the recovered rsETH collateral has been transferred to the recovery guardian. The Arbitrum DAO has passed a proposal to return the previously recovered $71 million in ETH.

In response to the plaintiff's application for asset seizure, the judge has approved Aave LLC's proposal, allowing the $71 million in ETH to be transferred to Aave LLC via an on-chain vote by the Arbitrum DAO. Subsequent plans include burning rsETH on Arbitrum and restoring the rsETH reserves. Once the reserves are restored, withdrawals will be reopened, and the WETH LTV on the Aave V3 Ethereum mainnet will be reinstated.