DeFi Deposits Decline by $15 Billion Following Major Hack on Kelp DAO

DeFi deposits have decreased by over $15 billion after a significant security breach on the Ethereum restaking application, Kelp DAO, resulted in the theft of $294 million. According to NS3.AI, data from DefiLlama indicates that Aave experienced a loss of $10 billion in deposits, while Morpho and Sky saw reductions of $1.7 billion and $600 million, respectively. North Korean hackers have reportedly stolen nearly $600 million from on-chain applications in the first four months of the year. Chainalysis has noted that these attacks are becoming increasingly sophisticated.