Michael Geike: LlamaRisk report explains rsETH exploit impact on Aave

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Hanna Syniavska

21.04.2026

Michael Geike: LlamaRisk report explains rsETH exploit impact on Aave — LlamaRisk reports on rsETH exploit

A new report from LlamaRisk has been released, shedding light on the recent situation involving rsETH and its effect on Aave. According to Michael Geike, the report clarifies that Aave itself was not hacked.

The incident began with a major exploit in the Kelp DAO rsETH system, where attackers minted unbacked rsETH and used it to initiate the problem. The update aims to provide transparency around the events that impacted Aave.

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Michael Geike has previously reported that tokenized stocks expanded from $5.49 million to $916 million as Real World Asset tokenization gained traction in crypto markets, according to recent data. He also noted a recent increase in stablecoin and RWA activity on Ethereum mainnet, citing regulatory clarity and new data as drivers. These developments have preceded the current focus on protocol security and risk events.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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