Aave founder says protocol is "resilient", but $8.45 billion deposit run exposes risks

According to Odaily, in April this year, KelpDAO's LayerZero bridge suffered a $292 million exploit, triggering a $8.45 billion deposit run on Aave within 48 hours, marking the largest capital outflow event in decentralized finance (DeFi) history. Aave founder Stani Kulechov stated that the design of Aave V3 withstood the market test, reflecting the network's "resilience." However, independent data suggests Aave's survival primarily relied on a $300 million emergency rescue, including a 25,000 ETH guarantee from Aave DAO and a personal capital injection of 5,000 ETH (approximately $8.4 million) from Kulechov.

Kulechov attributed the vulnerability to third-party infrastructure rather than the core smart contracts. However, analysts point out that this incident exposed deficiencies in Aave's risk architecture and insurance mechanisms, leading the platform to face massive bad debts (approximately $123.7 million in wETH). To prevent future systemic runs caused by bridge failures, Aave V4 will adopt a modular "hub-and-spoke" architecture, enabling automatic adjustment of localized risks and guarantee freezes. (CoinDesk)