The DeFi sector is experiencing significant withdrawals following the KelpDAO hack, according to ChainCatcher. Defillama founder 0xngmi reported that the incident has triggered a wave of panic withdrawals across DeFi lending protocols, affecting even those on Solana and others not directly impacted. Aave saw a net outflow of $6.2 billion, representing a 23% decrease, while Morpho experienced a $716 million outflow, down by 9%. Sky recorded a $272 million withdrawal, a 4% reduction, and JupLend faced a $76 million outflow, marking an 8% decline.
0xngmi further noted that the total value locked (TVL) in DeFi has evaporated by nearly $10 billion as a direct consequence of the hack. He emphasized that such events result in losses for everyone involved, shrinking the overall market size and negatively impacting the entire industry.