An OTC whale recently suffered significant losses due to market uncertainty while operating the DeFi protocol KelpDAO. Notably, Whale suffered a loss of $540,000 as a result of the KelpDAO $rsETH bridge hack. According to Lookonchain’s data, the exploit has significantly affected withdrawal flows. Thus, the whale witnessed huge losses in an attempt to rebalance their positions.
The OTC whale that previously bought 163,405 $ETH($440 million) and 4,000 $cbBTC ($296 million) withdrew 98,032 $wstETH ($272 million) and 3,000 $cbBTC ($221.6 million) from #Aave.
Hit by the KelpDAO rsETH bridge exploit, he was unable to withdraw $ETHso he immediately traded 7,438 aEthWETH ($16.83 million)… pic.twitter.com/77bWkauH9V
— Lookonchain (@lookonchain) April 20, 2026
OTC Whale Changes Strategy Amid KelpDAO $rsETH Bridge Hack, Losing $540,000
Consistent with the on-chain data, the OTC whale has suffered a loss of $540,000 due to the KelpDAO $rsETH bridge exploit. In this regard, the whale acquired 163,405 $ETH coins, amounting to a total of $440 million. At the same time, the whale also bought $4,000 cbBTC, which amounts to $296 million. However, the Kelp exploit forced the whale to change strategy.
Previously, the whale had extracted 98,032 $wstETH, worth $272 million, and 3,000 $cbBTC, worth $221.6 million, from Aave. Based on the data, whale fund withdrawals were among the largest recorded in recent hours, indicating the level of institutional-scale moves. However, due to the exploit, the OTC whale was unable to retreat $ETH because of the exploit.
Whale is still left with $10,000 $ETH on Aave after setback
According to Lookonchain, this led to the whale moving towards a solution. So the whale exchanged 7,438 $aEthWETH, equivalent to $16.83 million, for 5,272 $ETH and 1,930 $stETH. Nevertheless, the maneuver in question caused the whale significant losses.
The trading event cost 237 $ETH in losses, amounting to almost $540,000. Nevertheless, regardless of the setback, the whale now maintains 10,000 $ETH on Aave, equal to $22.8 million. Overall, such significant moves can have a ripple effect across various liquidity pools, affecting trader sentiment and token prices.