SDNY judge delays Aave bid to unlock $71M in ETH from Kelp DAO hack until June 5

Judge Margaret Garnett declined to grant Aave emergency relief for now, saying Aave had not shown the frozen funds create actual and imminent compounding losses rather than speculative risk. The fight is over roughly $71M in ETH frozen by Arbitrum after the April 18 Kelp DAO exploit, with Gerstein Harrow’s clients claiming the assets while Aave wants them used for user recovery. Briefs are due May 22, replies May 29 and the next hearing is June 5, turning Kelp’s recovery into a test of DeFi freezes, stolen-asset priority and whether victims can be repaid pro rata.

TLDR by @Benthic

More coverage

• Judge Delays Aave Bid to Unlock $71M ETH From Kelp DAO Hack (binance.com)
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• New York court pauses decision on Aave's $71M ETH recovery ... (crypto.news)
• Aave vote targets $71M in disputed Kelp exploit ETH - Crypto News (crypto.news)
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