According to CoinMeta, the total locked-up value of AAVE ($TVL) failed to recover after the attack on Kelp on April 18, 2026. Data shows that the value of AAVE dropped from $25.93 billion on April 17 to $21.8 billion on April 19, and further decreased to $14.4 billion on July 21, resulting in a loss of over $11.5 billion, a decrease of 44.5%. This attack exposed the vulnerabilities of non-isolated lending pools, as users continued to use counterfeit RSETH as collateral to borrow real assets while their funds were frozen, causing the utilization rate of stablecoins to soar to 100%. This incident triggered widespread panic among users regarding AAVE, leading to a liquidity crisis that ultimately affected the entire DeFi lending market.