steth

Lido has proposed to allocate up to 2,500 stETH (approximately $5.8 million) from the DAO to cover the asset gap of rsETH caused by the recent attack on Kelp DAO.Lido pointed out that the exploit based on LayerZero has led to insufficient rsETH reserves and triggered a chain reaction in the DeFi ecosystem, including rising interest rate pressures, a tightening lending market, and some leveraged strategies facing the risk of forced liquidation. The proposal emphasizes that these funds will only be used as part of a complete recovery plan, provided that the overall gap can be fully filled. Previously, the attack on Kelp DAO, amounting to approximately $292 million, had impacted Aave, causing bad debt issues, and its total locked value (TVL) once dropped by nearly $8 billion.

According to monitoring by Lookonchain, the whale 0xD91D created a new address and deposited 9,500 wstETH into Spark. Subsequently, it borrowed 9,500 ETH, worth approximately 22.68 million USD, and transferred it to Binance for sale, while withdrawing USDE from Binance to repay its loan on Aave.

According to Lookonchain monitoring, a certain OTC whale (0xd45...FB20) that previously bought 163,000 ETH and 4,000 cbBTC withdrew 98,032 wstETH (worth $272 million) and 3,000 cbBTC (worth $221 million) from Aave.Due to the inability to withdraw ETH affected by the KelpDAO rsETH bridge vulnerability, the whale directly exchanged 7,438 aEthWETH (worth $16.83 million) for 1,930 stETH and 5,272 ETH, resulting in a loss of 237 ETH (worth $540,000). Currently, the address still has 10,000 ETH (worth $22.8 million) remaining in Aave.

Lido posted on platform X that the team is aware of the developments regarding the Kelp DAO security incident. Due to the current exposure of the earnETH product to rsETH, they have proactively suspended new deposits to earnETH and are working with relevant partners to assess the situation. More information will be disclosed based on future developments. Lido added that stETH and wstETH have not been affected by the rsETH incident, and this security issue does not involve the Lido staking protocol itself.

The Lido ecosystem operations team has released a proposal in the community forum, seeking authorization for the Lido Growth Committee to use up to 10,000 stETH from the treasury to purchase LDO.The proposal states that the LDO/ETH exchange rate is currently at a historical low of approximately 0.00016, which is about a 63% discount compared to the two-year median, indicating a disconnect from its protocol fundamentals. The plan will be executed in batches through the Easy Track mechanism, with a maximum of 1,000 stETH per batch. Execution channels include on-chain platforms (CoW Swap, 1inch, Uniswap) as well as centralized exchanges. The trading slippage will be controlled within 3%, and all purchased LDO will be returned to the treasury.

According to The Block, Aave experienced a temporary oracle failure on March 10, resulting in the improper liquidation of approximately $26 million in wstETH positions.A post-mortem analysis report released by Chaos Labs, a major risk management service provider for Aave, indicated that the issue stemmed from a configuration error in the price oracle for the relevant assets (CAPO). Due to an inconsistency between the snapshot ratio and the snapshot timestamp, the oracle reported an exchange rate cap of approximately 1.1939, significantly lower than the actual market exchange rate of about 1.228, leading to erroneous liquidations of E-Mode positions.The incident affected around 34 accounts, with a total of approximately 10,938 wstETH being liquidated. Chaos Labs stated that a compensation plan is underway, which will utilize 141.5 ETH recovered from the event and up to 345 ETH from the DAO treasury to compensate affected users. The report emphasized that this incident was not a design flaw of CAPO or the off-chain risk oracle, but rather a parameter misalignment caused by on-chain configuration inconsistencies.

Lido officially stated that there is a potential vulnerability in the ZKsync wstETH bridging endpoint contract. There are currently no signs that this vulnerability has been exploited, and wstETH holders on ZKsync are not affected. Other bridging contracts are not impacted.As a precaution, Lido has paused new deposits to the ZKsync bridging contract, while withdrawals from zkSync and token transfers are unaffected. Lido has prepared a fix that will be audited and deployed during the next scheduled on-chain Lido governance comprehensive vote (late March/early April), after which the deposit functionality will be restored. Further updates will be released as necessary.

Lido tweeted that the V3 Phase 3 has been launched. Now, all stVaults can mint stETH without permission, and the minting limits for identified node operators have also been increased. The initial deployment work for Lido V3 has now been fully completed.

According to Onchain Lens monitoring, an OTC trading whale with the address 0xfb7 transferred 23,500 Ethereum (approximately $47.47 million) to FalconX, suspected to be for selling and repaying loans.Currently, the whale holds 4,000 cbBTC (approximately $269 million), 120,380 stETH (approximately $243 million), and 29,727 WETH (approximately $60.16 million). Meanwhile, the address borrowed $97.26 million in USDT from Aave.

According to Onchain Lens monitoring, a certain whale (0x761...1b68) spent 854 stETH (worth 1.69 million USD) and 163,000 USDT to buy 371 XAUT, with a purchase price of 5006 USD.The whale currently still holds 4000 stETH, worth 7.8 million USD.

According to Lookonchain monitoring, well-known ETH holder and staker, P2P.org and Cyber.Fund co-founder Konstantin Lomashuk (@Lomashuk) seems to be selling ETH.Two wallet addresses possibly related to him transferred 12,458 stETH (approximately $23.76 million) and 2,566 ETH (approximately $5.38 million) to Wintermute.

The address associated with the Bhutan Sovereign Wealth Fund Druk Holdings has reduced its holdings by 26,535 ETH in the last 24 hours. As of the time of writing, the health rate of the Aave account for this address is 1.17, currently holding 51,710.6793 stETH, with a loan of 79.75 million USDT still outstanding.

According to the official announcement, Lido V3 has launched on the Ethereum mainnet, introducing the stVaults modular staking infrastructure supported by stETH, designed specifically for developers.This upgrade expands the Lido protocol from a single pooled liquid staking (Lido Core) to support diverse staking models while retaining the shared liquidity and DeFi composability of stETH. stVaults allow builders to customize staking settings without having to build the infrastructure from scratch.

According to on-chain analyst Ai Yi's monitoring, a certain address (0xd45...FB20) that previously made a profit of 98.18 million USD from ETH trading has sold for the first time since establishing its position.Three hours ago, the address deposited 10,000 stETH into Wintermute, worth 30.12 million USD, and subsequently received 30.03 million USDC. Recently, the address has accumulated a total of 70,013 ETH, with an average cost of approximately 2,907 USD, resulting in a profit of 1.039 million USD from this sale. Currently, the address still holds 60,013 ETH, with an unrealized profit of 7.243 million USD, bringing its total ETH trading profit to 99.22 million USD.

Accompanied by Ethereum briefly dropping below $2,800 this morning, the loan health ratio of Bhutan's sovereign wealth fund Druk Holdings' main wallet on Aave briefly fell below 1.2, currently reported at 1.22.The associated address of the Bhutan sovereign wealth fund is leveraging long positions on ETH. As of the time of writing, its address holds a total of 116,560 stETH, with an unrealized loss of about 10% from its purchase cost. This stETH is currently all held in Aave, with the main wallet holding 104,000 stETH and borrowing 200 million USDT.

According to Onchain Lens monitoring, the whale "0x81D" has further borrowed 155 million USDT in the past and purchased 65,700 stETH.Currently, this whale holds a total of 142,777 ETH across 2 wallets, worth 460.11 million dollars.

According to an update from on-chain analyst @ai_9684xtpa, a whale that "built a position of 42,452.79 ETH in a single day" has added another 11,355.06 wstETH. The address 0x81D...74246 has bought wstETH on-chain in the past hour at an average price of $3,932.8 and simultaneously unwrapped it into stETH, spending $44.66 million; over the past 24 hours, a total of 66,107.49 stETH has been accumulated, with a total value of $212 million.Currently, there are still 15.93 million USDT held on-chain, which may indicate further accumulation.

According to Lookonchain monitoring, a newly created address (0x81d0) withdrew 10,057 ETH from Binance, worth 33.68 million USD, and then staked it on Lido to obtain stETH.The address deposited stETH into Aave, borrowed 45 million USDT to buy 13,461 stETH, and then deposited that stETH back into Aave.

According to Onchain Lens monitoring, a certain whale sold all 230,350 AAVE tokens in the past 3 hours, in exchange for 5,869.46 stETH (worth approximately $17.52 million) and 227.8 WBTC (worth approximately $20.07 million), with a total value of about $37.59 million. This large sell-off caused the AAVE price to drop by about 10%.

USPD protocol officially issued an emergency security alert, confirming that its protocol has encountered a serious security vulnerability attack, leading to unauthorized token minting and liquidity depletion.The attacker exploited an advanced attack technique called "CPIMP," executing proxy initialization ahead of time during the deployment process to gain hidden administrator privileges. By installing a "shadow" to implement and manipulate event data, the attacker successfully evaded verification tools, including Etherscan, and hid for months before using the privileges to mint approximately 98 million USPD and steal about 232 stETH. The USPD team has collaborated with law enforcement and security organizations to tag the attacker's address to freeze funds, while also expressing a willingness to treat the incident as a white hat rescue, stating that if 90% of the funds are returned, they will cease law enforcement actions.