Aave chief defends protocol's 'resilience' after $8.45 billion bank run (opens original article in a new tab)

Aave's founder defended the protocol's resilience after an $8.45 billion deposit run, attributing the crisis to third-party entities rather than Aave's own code, while acknowledging the need for a major upgrade to improve risk management.

• Aave's founder blamed third-party entities for the $8.45 billion deposit run.
• Aave's survival relied on a $300 million emergency bailout from the DAO and the CEO's personal contribution.
• Aave plans to overhaul its risk management with the upcoming V4 upgrade.