Aave Platform USDT Borrowing APY Surges to 14.99%

BlockBeats News, April 19th, according to data from the Aave platform, the USDT borrowing APY surged to 14.99%, and the deposit APY surged to 13.39%.

The KelpDAO hacker borrowed a significant amount of ETH from Aave by illicitly minting rsETH collateral. For risk aversion, over $5.4 billion in assets were urgently withdrawn from Aave. The massive fund outflow may have caused the Aave platform's USDT deposit and borrowing APY to surge.