DeFi has been hit again by security issues this time. Attacks, bad debts, and stagnant TVL all appeared together, so institutions will naturally be more cautious, after all, they are looking at whether they can keep their money long-term, not whether the chain is lively. The attack related to Kelp DAO resulted in approximately $230 million in bad debt, and the TVL measured in $ETH has remained mostly unchanged. For $ETH , this indicates that institutions still need more solid growth in this area; for $AAVE , risk control and bad debt management will directly impact subsequent trust.