Aave Recovers 90% of Kelp DAO Hack Debt: P2P Traders Watch for Spread Shifts

Aave is just 10% away from erasing the bad debt incurred from the Kelp DAO hack.

This near-complete recovery stems from liquidating the hacker's rsETH positions across Ethereum and Arbitrum.

Galaxy Digital's Thaddeus Pinakiewicz confirmed Aave has recovered 90% of the stolen funds, a critical milestone.

For Binance P2P and Bybit P2P merchants, this means a potential stabilization of ETH-related pairs and a reduction in extreme volatility that could have impacted spreads.

Expect tighter spreads on ETH pairs as market confidence returns, rewarding quick traders.