"The KelpDAO exploit drained roughly 116,500 rsETH before the assets were deployed as collateral across DeFi protocols, triggering freezes and the buildup of bad debt, much of it concentrated on the lending platform Aave."
"The total value locked (TVL) across all DeFi protocols tracked by defillama.com has declined by approximately $14.17 billion, falling from $99.49 billion to the current $85.32 billion."
"Aave's TVL has fallen 32.44% to its current level of $17.038 billion, losing just over $8 billion or 57.73% of the $14.17 billion that left the DeFi sector since April 18."
The KelpDAO exploit on April 18 resulted in the loss of over $300 million, significantly impacting the DeFi ecosystem. Aave faced bad debt and freezes due to the exploit, which drained approximately 116,500 rsETH. This incident caused a system-wide liquidity strain, leading to a decline in total value locked (TVL) across DeFi protocols from $99.49 billion to $85.32 billion. Aave's TVL dropped by 32.44%, losing over $8 billion, while Lido became the leading protocol by TVL.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]