Circle Ventures buys AAVE tokens, joining DeFi United alongside Consensys

Circle Ventures has announced the acquisition of AAVE tokens, signaling its support for the decentralized finance ecosystem and joining the DeFi United initiative. This multi-party recovery effort was established by Aave service providers in response to the April 18 rsETH exploit, which involved the release of approximately 116,500 fraudulent rsETH tokens through a bridge configuration error.

The exploit caused significant damage, including over $177 million in bad debt and 100% utilization of the WETH pool in Aave. In response, DeFi United has secured over $237 million in commitments from various sources to restore rsETH's collateral backing and normalize market conditions across networks like Ethereum and Arbitrum.

Joining the effort is Consensys, which, along with CEO Joseph Lubin, has contributed up to 30,000 ETH toward the recovery. Other major participants include Arbitrum DAO, Mantle, Aave DAO, and Aave founder Stani Kulechov, among others.

(Source：Crypto Briefing)