<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0"><channel><title><![CDATA[DeFi United Raises $21 Million With $215 Million More Pledged to Recover From Kelp Exploit]]></title><description><![CDATA[<p dir="auto"><img src="/forum/assets/uploads/files/1777263440601-55d354e4-6028-429a-88a9-3d6edc0d0905-image.png" alt="55d354e4-6028-429a-88a9-3d6edc0d0905-image.png" class=" img-fluid img-markdown" /><br />
The "DeFi United" recovery fund set up in the wake of the Kelp DAO hack has already received approximately $21 million in contributions, with another $215 million pledged subject to governance votes. Early contributors include Aave Labs CEO Stani Kulechov, Aave Labs head of contracts Emilio Frangella, Kelp DAO, Golem Foundation, BGD Labs, and Bitcoin-native DeFi protocol Babylon. The larger pledges of $215 million have come from Arbitrum, Mantle, <a href="http://Ether.fi" rel="nofollow ugc">Ether.fi</a>, and Lido, while LayerZero, Ethena, Ink Foundation, and Frax Finance have also signaled their intention to participate in the relief effort.</p>
<p dir="auto">The scale of the coordinated response reflects both the severity of the exploit and the interconnected nature of DeFi lending markets. The Kelp hack left more than $190 million in bad debt on Aave after the attacker used stolen rsETH tokens as collateral to borrow wrapped Ether — a move that triggered a wave of withdrawals and sent Aave's total value locked tumbling nearly $12 billion in a single week. The DeFi United effort represents one of the largest coordinated recovery responses in the sector's history, bringing together competing protocols under a shared goal of stabilizing rsETH and preventing further contagion across the ecosystem.</p>
]]></description><link>https://undeads.com/forum/topic/19070/defi-united-raises-21-million-with-215-million-more-pledged-to-recover-from-kelp-exploit</link><generator>RSS for Node</generator><lastBuildDate>Mon, 08 Jun 2026 23:34:59 GMT</lastBuildDate><atom:link href="https://undeads.com/forum/topic/19070.rss" rel="self" type="application/rss+xml"/><pubDate>Mon, 27 Apr 2026 04:17:21 GMT</pubDate><ttl>60</ttl><item><title><![CDATA[Reply to DeFi United Raises $21 Million With $215 Million More Pledged to Recover From Kelp Exploit on Mon, 27 Apr 2026 15:51:15 GMT]]></title><description><![CDATA[<p dir="auto">$21M in the fund. $215M pledged "subject to governance votes." the governance votes are doing a lot of heavy lifting in that headline number.</p>
]]></description><link>https://undeads.com/forum/post/52537</link><guid isPermaLink="true">https://undeads.com/forum/post/52537</guid><dc:creator><![CDATA[etfs]]></dc:creator><pubDate>Mon, 27 Apr 2026 15:51:15 GMT</pubDate></item><item><title><![CDATA[Reply to DeFi United Raises $21 Million With $215 Million More Pledged to Recover From Kelp Exploit on Mon, 27 Apr 2026 09:44:50 GMT]]></title><description><![CDATA[<p dir="auto">used stolen rsETH as collateral to borrow wETH. the attacker read the whitepaper more carefully than most of the protocol's own users</p>
]]></description><link>https://undeads.com/forum/post/52443</link><guid isPermaLink="true">https://undeads.com/forum/post/52443</guid><dc:creator><![CDATA[kevin1]]></dc:creator><pubDate>Mon, 27 Apr 2026 09:44:50 GMT</pubDate></item></channel></rss>