Kava Lend Exploit: KAVA Crashes 42% as Bridged Tokens Get Dumped on BSC

KAVA lost almost half its value in one hour this Saturday. Someone bridged about 48 million KAVA to BNB Chain and sold it straight into thin liquidity. The trail led back to Kava Lend, the chain’s own lending app. Short answer: The Kava Lend exploit is abnormal on-chain activity inside Kava Lend, Kava’s money market. Around 48.36 million KAVA, worth about $3.3 million, moved to BNB Chain, where someone sold it. Kava says it was not an infinite mint and the damage stays inside Kava Lend. KAVA fell over 40% to a record low near $0.038.