The $13 billion DeFi wipeout in two days, and it started with KelpDAO attack
By Sam Reynolds
Published on April 20, 2026.
The decentralized finance (DeFi) ecosystem is experiencing a significant capital outflow following the weekend's exploit of the KelpDAO protocol. Leading DeFi lending platform Aave has lost $8.45 billion in deposits over the past 48 hours, leading to a broader $13.21 billion decline in total value locked (TVL) across DeFi. The losses were mainly due to a $292 million exploit of Kelp's bridge that used stolen seseth, a liquid re-staking token used in DeFi as collateral for borrowing. The issue may have originated in the verification layer rather than the smart contracts themselves.
Related Articles
Startale Expands to Abu Dhabi, Aligning With UAE’s State-Backed Crypto Push
Startale Group is expanding in Abu Dhabi, partnering with Hub71's Digital Assets cohort, to expand its global digital asset ecosystem and access to institutional capital.
Iran has tightened Strait of Hormuz access for allies and foes alike: S&P Global Energy
Iranian authorities have tightened up security in the Strait of Hormuz, restricting access for allies and opponents, challenging global shipping norms.
European stocks set to slump as Gulf tanker attacks threaten ceasefire
European stocks are expected to drop as a re-escalation of U.S-Iran tensions threatens the fragile ceasefire, despite Iran's claims of violations.