Aave: The rsETH recovery plan has liquidated the hacker's position and is authorized to transfer 71 million USD in ETH
According to Odaily, Aave stated on the X platform that there has been progress in the second phase of the technical solution to the rsETH incident recovery. On May 6, hackers’ eight positions on Aave V3 were liquidated, and the recovered rsETH collateral has been handed over to the recovery custodian. The Arbitrum DAO has passed a proposal to return the previously recovered $71 million in ETH.
Regarding the plaintiff’s request for asset seizure, the judge has approved the proposal from Aave LLC, allowing the $71 million ETH to be transferred to Aave LLC through an on-chain vote by the Arbitrum DAO. Subsequent plans include destroying the rsETH on Arbitrum and restoring the rsETH reserve. Withdrawals will reopen once the reserve is restored, and the WETH LTV on the Aave V3 Ethereum main network will be reinstated.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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