Justin Sun Urges Kelp DAO Hacker to Negotiate After $292 Million Exploit
- Direct Appeal to Hacker: Tron founder Justin Sun publicly urged the Kelp DAO hacker to negotiate, warning that the attack could potentially collapse both Kelp and Aave, highlighting serious concerns about the security of the DeFi ecosystem.
- Details of the Attack: The hacker forged a cross-chain message to drain 116,500 rsETH from Kelp's bridge and used it as collateral on Aave V3 to borrow approximately $195 million in wrapped ether, leaving Aave with over $236 million in bad debt, severely impacting its liquidity.
- Significant Market Impact: Aave's total value locked plummeted from $26.4 billion to nearly $20 billion within just two days, reflecting growing market concerns about the security of DeFi platforms and potentially leading to a decline in investor confidence.
- Cumulative DeFi Losses: This incident follows the $285 million Drift exploit on April 1 and the $80 million Resolv Labs breach in March, pushing total DeFi losses for 2026 past $450 million, underscoring the security challenges and risks facing the industry.
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Technical Analysis for AAVE
Technical Sentiment Analysis for Aave (AAVE). As of , Aave (AAVE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 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 | 50.839 | 68.589 | 83.369 | 101.119 | 115.899 | 133.649 | 148.429 |
| Fibonacci | 68.589 | 81.016 | 88.693 | 101.119 | 113.546 | 121.223 | 133.649 |
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