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The DeFi “set of nested dolls” threat finally exploded. KelpDAO’s rsETH saw a $2.92e8 collapse in a single day—just halfway through April—and the total amount stolen in on-chain DeFi has already exceeded $600 million. Multiple DeFi protocols urgently cut the cord by pausing relevant functions and markets, and AAVE faced an epic run on $54 hundred million in a once-in-an-era style bank run!
Let’s sort out the systemic shock triggered today by the KelpDAO attack:
Source: KelpDAO’s rsETH was compromised through