Key Takeaways:
- After recouping the attacker’s holdings on May 6, Aave has moved forward to Phase II of its recovery plan.
- Arbitrum DAO and Mantle DAO voted on proposals that involve recovering $71 million in ETH for DeFi United.
- Aave introduced a compensation mechanism that the users affected by the issue can use to verify the potential reimbursements.
Aave is more than just keeping pace with the efforts to calm markets after the rsETH exploit caused significant chaos in the Ethereum and Arbitrum markets. The protocol has confirmed that all the critical steps of the process are complete, and the next steps will be dedicated to restoring rsETH backing, reopening withdrawals and normalizing market operations.
The recovery operation now involves technical fixes, DAO coordination, court-approved fund transfers, and temporary liquidity support.
Read More: TRON and HTX Dump $20M USDT for Aave’s Cross-Chain
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