Gate News update, April 23. According to Gate market data, as of the time of writing, NCT (PolySwarm) is currently trading at $0.00888. Over the past 24 hours, it is up 27.75%, with a highest of $0.01127 and a lowest of $0.00693. The trading volume over the past 24 hours reached $170.6k. The current market cap is approximately $16.7395 million. PolySwarm is a decentralized threat intelligence marketplace implemented through Ethereum smart contracts and blockchain technology. It defines the source of threat intelligence and how to obtain good threat intelligence by processing bad (inaccurate) threat intelligence. PolySwarm uses precise economic methods to promote rapid innovation in the $8.5 billion annual cyber threat intelligence market, providing the global community of security experts with timely and accurate malware detection. This message does not constitute investment advice; please be mindful of market volatility risks when investing.

Gate News message, April 22 — China's Economic Daily published an article highlighting the need to regulate token trading and combat illegal activities. The report warns that tokens face risks including identity theft from leaks, permission forgery, and unauthorized commission schemes by bad

Gate News message, April 21 — According to DefiLlama founder 0xngmi, if Arbitrum prioritizes using seized funds for the Aave market on Arbitrum, bad debt could be significantly reduced. Under a "loss socialization" scenario, Arbitrum would face no bad debt at all; if rsETH on the L2 faces a

Justin Sun withdrew 55.01 million USDC from a major CEX and deposited it into the Spark protocol, totaling $179 million in deposits since Aave's bad debt incident, highlighting Spark's growing liquidity.

DeFi tokens have sharply declined due to a bad debt event affecting multiple protocols, with AAVE and LayerZero both dropping 22%. Contagion fears impacted even those without direct exposure, like Ethena and Compound.

An attacker exploited a vulnerability in Kelp DAO's cross-chain bridge, stealing $293 million in unbacked rsETH. The incident caused significant losses for DeFi platforms, with Aave facing up to $236 million in bad debt and substantial impacts on the market.

Gate News message, the KelpDAO exploiter borrowed over 82,600 ETH ($195M) from Aave using RSETH as collateral, resulting in bad debt appearing on Aave. Following this incident, numerous whales withdrew funds from Aave, causing its TVL to decline from $26.396B to $20.114B, a decrease of $6.28B.

Gate News message, AAVE token declined more than 18% today after the KelpDAO exploit created bad debt on Aave protocol. Multiple whale addresses conducted large-scale sell-offs: smaugvision sold 20,015 AAVE for 2.06M USDC at an average price of $103; Whale 0xFC56 sold 20,000 AAVE for 2.05M USDC at a

A Bank of Canada research report states that Aave V3 on Ethereum is expected to achieve zero non-performing loans in 2024, with a total loan volume of about $6 billion. The report analyzes the effectiveness of over-collateralization and automatic liquidation mechanisms in protecting lenders, finding that leveraged loop transactions are mainly driven by large investors, liquidation activity is concentrated in a small number of assets, and it has little impact on market prices.