Aave Deploys Recovery Fund Amid Ongoing DeFi Hacking Incident

Aave has taken steps to mitigate the impact of the recent rsETH hack on its platform. In an effort to restore stability, the company has set up a recovery fund aimed at fully restoring rsETH collateralization.

The plan will be implemented under DAO decision-making procedures, including an Arbitrum governance vote. This approach reflects Aave's commitment to decentralized and community-driven decision-making.