DeFi losses top $600 million in weeks as Kelp DAO exploit drags TVL to one-year low
The Block
DeFi sector losses have exceeded $600 million in three weeks, driving total value locked to a one-year low following the Kelp DAO exploit.Summary
The DeFi sector is facing a crisis after cumulative losses surpassed $600 million in three weeks, largely driven by the $292 million Kelp DAO exploit and the $285 million Drift Protocol attack. These events have pushed total value locked (TVL) down to $82.4 billion, a 25% decline since the start of 2026. The Kelp DAO incident, allegedly linked to the Lazarus group, caused significant disruption in lending markets like Aave, leading to complex recovery discussions and legal tensions between the involved protocols.
(Source：The Block)