Aave has seen an outflow of over $10 billion since the KelpDAO rsETH security incident on April 18, according to data from @defioasis. More than 20 addresses have withdrawn over $100 million each, with HTX and MEXC being among the largest holders. HTX has been quick in processing withdrawals, while MEXC has gradually withdrawn over $500 million but still has over $95 million USDT pending liquidity replenishment.
Spark PSM is the largest known single withdrawal entity, having redeemed over $310 million from Aave and subsequently depositing it back into Sparklend. Other notable protocols and institutions withdrawing over $100 million include Mellow Finance, Ethena, Abraxas Capital Mgmt (Heka Funds), Grove Finance, and Metalpha.
Aave Experiences Over $10 Billion Outflow Following KelpDAO Incident
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