#token burn

The post Ether Withdrawals to Resume Following KelpDAO and Aave’s Coordinated Token Burn appeared on BitcoinEthereumNews.com. Key Takeaways The rsETH attacker’s Arbitrum tokens were burned today, following liquidation of 8 Aave V3 positions on May 6. Aave co-founder Stani Kulechov confirmed ETH withdrawals will normalize within 24 hours of the Arbitrum burn step. Recovery is partially complicated by a U.S. court’s prior freeze on $71M in ETH, claimed to be linked to North Korea’s Lazarus Group. MORE THAN AN EXPLOIT The rsETH bridge lockbox on Arbitrum is being refilled, and ether withdrawals for users affected by the KelpDAO exploit are expected to start within 24 hours, marking the final phase of one of decentralized finance ( DeFi)’s most complex coordinated recoveries. Aave co-founder Stani Kulechov confirmed the development directly, noting the past several weeks, including weekends, had been “incredibly intense.” Image source: X The attack began on April 18, when an unknown attack

Ether withdrawals are expected to resume within 24 hours for KelpDAO users after a coordinated burn of the attacker’s rsETH tokens on Arbitrum successfully neutralized the exploit’s impact. MORE THAN AN EXPLOIT The rsETH bridge lockbox on Arbitrum is being refilled, and ether withdrawals for users affected by the KelpDAO exploit are expected to start […]