Aave Faces $292M Attack with 116,500 Fake rsETH Tokens
- Attack Overview: The hacker exploited a vulnerability in KelpDAO's LayerZero bridge to create 116,500 counterfeit rsETH tokens, extracting approximately $292 million, which has plunged Aave into a severe liquidity crisis.
- Liquidity Crisis Escalation: Within 48 hours post-attack, Aave experienced net capital outflows of around $9 billion, while the total value locked (TVL) in DeFi plummeted by approximately $13 billion, reflecting widespread panic in the market.
- Industry United Response: Aave, alongside industry leaders like Lido and EtherFi, formed the “DeFi United” recovery initiative, with Lido pledging to contribute 2,500 stETH (valued at about $5.7-$6 million) to a recovery fund, showcasing industry solidarity and response capability.
- Emergency Freeze Measures: Aave implemented emergency pauses across five networks, including Ethereum Core and Arbitrum, to prevent further losses while planning to stabilize the system through new capital injections, with expectations of additional commitments from ecosystem participants.
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Technical Analysis for AAVE
Technical Sentiment Analysis for Aave (AAVE). As of , Aave (AAVE) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 1 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AAVE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AAVE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Aave (AAVE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 82.206 | 86.623 | 89.956 | 94.373 | 97.706 | 102.123 | 105.456 |
| Fibonacci | 86.623 | 89.584 | 91.413 | 94.373 | 97.334 | 99.163 | 102.123 |
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