KelpDAO Exploit Leads to $292M Loss and DeFi TVL Decline
A $292 million exploit in KelpDAO's cross-chain bridge triggered a significant drop in DeFi total value locked (TVL) by $13 billion. The incident involved the misuse of rsETH collateral on Aave, leading to a 25% drop in Aave's TVL and a 30% decline in its token price. The exploit has raised concerns about the security and assumptions in DeFi protocols.
