US EditionWhy DeFi is not dead after the KelpDAO exploit
4 Articles
4 Articles
Why DeFi is not dead after the KelpDAO exploit - Technology Shout
After a $290 million vulnerability was exploited and the total value locked in DeFi fell by approximately $13 billion, the simplest view is that decentralized finance is broken again. It's also probably the laziest.The KelpDAO vulnerability over the weekend was serious. It appears to have started with a targeted attack on the infrastructure used in
KelpDAO's exploit feels less like another nasty headline and more like a referendum on DeFi's most beloved promise. In a market that accumulated more than $600 million in losses over the past three weeks, the drainage of $292 million from KelpDAO's rsETH bridge helped bring DeFi's blocked total value to about $82.4 billion, its lowest level in a year. The attacker emptied 116,500 rsETH on April 18, and the consequences did not stay within a sing…
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