Crypto News
DeFi Survives KelpDAO Exploit as $13 Billion TVL Drop Masks Real Damage
KelpDAO's $292M exploit and a $13B DeFi TVL plunge look catastrophic, but much of the decline reflects leveraged positions unwinding rather than actual
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KelpDAO's $292M exploit and a $13B DeFi TVL plunge look catastrophic, but much of the decline reflects leveraged positions unwinding rather than actual
The KelpDAO hacker converted 75,700 stolen ETH worth $175M into Bitcoin in roughly 36 hours, using THORChain and generating $910K in platform fees.
Volo Protocol confirmed a $3.5 million exploit targeting three vaults on the Sui blockchain, just days after the KelpDAO breach rattled DeFi markets.
The KelpDAO rsETH exploit has pushed Aave stablecoin pools to 100% utilization, forcing trapped depositors to borrow $300M against their own locked funds.