Aave DAO proposes using 25K ETH to cover rsETH hack losses

A governance proposal has been submitted to the Aave (AAVE) DAO to use 25,000 ETH, worth approximately $58 million, from its treasury to address the recent $292 million hack of Kelp DAO's rsETH bridge. According to the proposal, initial losses from the incident were estimated at 163,183 ETH but have since been reduced to 75,081 ETH following the freezing and recovery of some assets. The proposal also noted that a "DeFi Alliance" composed of Aave's partners and service providers has donated around 14,570 ETH. Furthermore, an agreement has been reached to borrow up to 30,000 ETH from Mantle (MNT), with any additional donations to be used for repaying this loan.