Opinion: The KelpDAO theft incident may accelerate DeFi's transition to modular lending, and LayerZero will lose part of its cross-chain market.

Mars Finance reports that on April 19, crypto KOL benmo.eth stated that the theft of rsETH from KelpDAO has far-reaching consequences, with responsibility lying between KelpDAO and LayerZero. He believes this incident could lead to the following impacts:
• The security of wrapped assets like LRT cannot compare to native assets; lending protocols should not treat them as equivalent collateral.
• LayerZero may lose part of its cross-chain market in the future. Several assets, including usde and usd0, have stopped using its cross-chain solutions. Even if business resumes, restoring reputation will be very difficult.
• Aave’s security “golden shield” has been broken, and the risks of unified lending markets are once again under the scrutiny of whales. Every new collateral asset introduces additional risks to existing collateral assets, which is unfair to native assets. Aave V4 and modular lending may become the future trend, and related transformation processes could accelerate. The market will focus more on “lending business itself” rather than a single lending platform or curator, but operational costs will also rise.
• The cost for L2 to acquire TVL will further increase, and some liquidity may flow back to L1.
• DeFi’s expansion path will halt, shifting toward a more conservative security mode, while also needing to further address AI-driven security threats like Anthropic Mythos.