Aave: rsETH recovery plan has liquidated hacker positions and is authorized to transfer $71 million ETH

Aave posted on platform X that the second phase of the rsETH event recovery technical plan has made progress. The 8 positions of the hacker on Aave V3 have been liquidated, and the recovered rsETH collateral has been handed over to the recovery custodian. The Arbitrum DAO has passed a proposal to return the previously recovered $71 million ETH.

In response to the plaintiff's application for fund seizure, the judge has approved Aave LLC's proposal, allowing the transfer of the $71 million ETH to Aave LLC through on-chain voting by the Arbitrum DAO. Subsequent plans include destroying rsETH on Arbitrum and restoring the rsETH reserve. Once the reserve is restored, withdrawals will be reopened, and the WETH LTV on the Aave V3 Ethereum mainnet will be reinstated.