DeFi TVL Drops by $13.21 Billion Following KelpDAO Bridge Exploit

A significant exploit involving the KelpDAO bridge has resulted in a $13.21 billion decrease in the total value locked (TVL) in decentralized finance (DeFi) over the past 48 hours. According to NS3.AI, data from DefiLlama indicates that Aave experienced a loss of $8.45 billion in deposits during this period. The overall DeFi TVL declined from $99.497 billion to $86.286 billion. The exploit allowed attackers to use stolen rsETH as collateral to borrow on various lending platforms. This incident has led to market freezes and prompted users to withdraw their funds.