Ethereum backers pledge up to 30,000 ETH to rsETH recovery after bridge incident
The funding follows a $290 million rsETH bridge exploit that disrupted DeFi markets and triggered a coordinated recovery effort.
Consensys and Ethereum co-founder Joe Lubin have joined DeFi United, committing as much as 30,000 ETH to a recovery effort aimed at restoring rsETH backing after a $290 million bridge exploit triggered widespread disruptions across DeFi.
The initiative, led by participants in Aave DAO, aims to support affected users and stabilize rsETH markets, with governance approvals still pending across involved protocols.
The funding is intended to provide immediate liquidity while governance processes continue, with an eye on limiting disruption across DeFi protocols. Sharplink, a publicly traded Ethereum treasury company, has joined in an advisory role to help structure the recovery plan.