Whale withdraws nearly $500M from Aave after KelpDAO hack

An over-the-counter (OTC) whale address starting with 0xd4584, previously known for buying hundreds of millions of dollars in ETH and cbBTC, has withdrawn 98,032 wstETH ($272 million) and 3,000 cbBTC ($221.6 million) from the crypto lending platform Aave, Lookonchain reported. The on-chain tracker noted that the whale appeared to have difficulty withdrawing ETH from Aave following the hack of KelpDAO's rsETH bridge. The whale also lost 237 ETH ($540,000) while swapping some of the bridged ETH. The address still holds about 10,000 ETH ($22.8 million) on Aave. The KelpDAO exploit over the weekend resulted in the theft of over $290 million in assets, and it was previously reported that more than $10 billion in funds had been withdrawn from Aave amid the fallout.