XI HOLD PHONE TALKS WITH SAUDI CROWN PRINCE - XINHUA

A weekend hack that drained nearly $300 million from a little-known DeFi project has triggered broad investor concern and heavy withdrawals from Aave. According to PeckShield, hackers placed about $200 million of stolen tokens on Aave as collateral to borrow another cryptocurrency, raising concerns over asset quality on the platform. Data from DefiLlama shows about $9 billion in net outflows since Saturday, with total value locked falling more than one-third to $17.5 billion. Apollo Crypto portfolio manager Pratik Kala said depositors are exiting due to perceived balance sheet risk, describing the response as “withdraw first, ask questions later.”

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