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Kelp DAO was hacked on April 18th, losing $293 million, with the hacker dumping the stolen rsETH into $Aave, directly contaminating the liquidity pool.
As a result, within 48 hours, the entire DeFi sector evaporated $13 billion, with Aave suffering the worst, a net outflow of $9 billion, and TVL plummeting 33% to just $17.5 billion.
I believe Aave's losses have already far exceeded those of Kelp itself. Although they froze the rsETH market, short-term capital outflows still haven't stopped.
Market confidence in LRT has collapsed, and everyone is rushing into BTC and USDC.
This once again proves: DeFi yields are high, but the risks are also significant, and protecting principal is the most important.