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Guys, are you seeing the chaos that’s been happening in DeFi these days? It started with an attack on KelpDAO and turned into a chain reaction that took $13 billion in TVL out of the market in just 48 hours. I mean, it’s impressive how one incident can trigger all of this.
What happened was basically a domino effect. When the attack on KelpDAO leaked, it created a wave of panic among users. People started withdrawing liquidity from everywhere, and the TVL of DeFi protocols plummeted. It wasn’t just KelpDAO, it was everyone rushing for the exits at the same time.
The interesting (and scary) thing is to see how the sector is still fragile in certain aspects. A single security incident can cause liquidity loss of this magnitude. It shows that many people are still investing with a short-term risk mindset, ready to run at the first sign of trouble.
And here’s the lesson: always review the security of the protocols you’re using and don’t put everything in one place. The TVL will come back, but trust takes longer to recover. Stay sharp out there.