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Bybit to Back Mantle Proposal for Aave-Linked Rescue Loan, CEO Says

Bybit to Back Mantle Proposal for Aave-Linked Rescue Loan, CEO Says

On April 24, Mantle proposed a 30,000 ETH loan to help Aave address attack-linked bad debt risk, and Bybit CEO Ben Zhou said the exchange will vote in favor.

ETH
MNT
AAVE

Fact Check
The core claim is supported by several sources gathered in this run. The most direct evidence is the X post at https://x.com/WuBlockchain/status/2047481530143182870, which specifically says MantleCore submitted draft MIP-34 on April 24, 2026 to authorize a loan of up to 30,000 ETH from Mantle Treasury to Aave DAO for up to 36 months, tied to bad debt from the rsETH bridge exploit. BlockBeats, PANews, and Odaily each independently report the same central fact pattern: Mantle proposed or planned a 30,000 ETH loan to Aave to address attack-related bad-debt risk. CoinDesk corroborates the existence of the major Kelp DAO/rsETH exploit that could plausibly create the referenced bad-debt risk. Confidence is only medium because an official Mantle governance forum page or Aave governance record was not successfully retrieved in this run, and one secondary source shows a likely incorrect publication year.
    Reference: 1
Summary

Mantle proposed lending 30,000 ETH to Aave after a recent attack created bad debt risk for the decentralized lending protocol, according to a governance forum post on April 24. The proposal was framed as industry mutual support between Bybit-backed Mantle and Aave. On the same day, Bybit CEO Ben Zhou said the exchange would vote in favor of the Mantle community proposal, calling support "the only right choice" and citing help Bybit previously received during the exchange’s hack. Together, the statements point to a coordinated crypto-sector response aimed at backstopping potential losses and supporting protocol stability during stress.

Terms & Concepts
  • Bad debt: Losses that arise when a borrower’s collateral is insufficient to repay outstanding loans, leaving a lending protocol with an uncovered shortfall.
  • Aave: A decentralized lending protocol that lets users lend and borrow crypto through smart contracts (self-executing blockchain code).
  • Governance forum: An online venue where token communities and protocol participants discuss and propose operational or treasury decisions before implementation.