🚨 $280 million disappears into thin air! KelpDAO was hacked, but the market blames the wrong person?

Just now, the crypto world exploded with shocking news again! $KERNEL Ecosystem's KelpDAO suffered a severe hack, with initial losses estimated at around $280 million.
The hacker's operation was a textbook-level "recursive harvesting": first, the hacker precisely exploited a contract vulnerability in KelpDAO, crazily minting a massive amount of $rsETH (KelpDAO's Ethereum re-staking token); then, the hacker collateralized these "fake gold" directly into the DeFi lending giant AAVE protocol, and naturally borrowed out real $ETH. Currently, this huge $ETH is being quickly laundered through Tornado Cash.
But the most surreal part is the market reaction:
As the lending tool exploited by the hacker, $AAVE plummeted 12%;
And as the true source of the vulnerability and "culprit," $KERNEL only dropped 7%.
This is simply absurd! Logically, the huge scapegoat must be KelpDAO ($KERNEL), AAVE is completely innocent.
Let's clarify the underlying logic: AAVE, as a lending protocol, operates on the core mechanism of "collateralize legitimate assets to lend liquidity." From AAVE's perspective, the $rsETH tokens it received were minted through normal channels, verified on-chain without alarms. AAVE just faithfully executes lending rules.
The real fatal flaw lies in KelpDAO! It’s the underlying minting logic of KelpDAO that had a major loophole, allowing hackers to achieve "unsecured infinite issuance." It’s like someone using counterfeit fake bills to collateralize a loan at a bank— the bank (AAVE) disbursed the loan according to procedure. Should we blame the bank’s poor risk control, or the source of the counterfeiting (KelpDAO)?
In extreme panic, the market often loses rationality, leading to severe "misjudgments." The sharp drop of $AAVE is mostly emotional venting and retail investors' mindless sell-offs; meanwhile, $KERNEL faces real credit collapse, project accountability, and potentially endless selling pressure.
In the crypto market, understanding the underlying logic is more important than blindly following the trend. Don’t lose money in someone else’s yard just because their water pipes burst. Misjudgments often present opportunities, but those who take the blame will eventually have to pay back the debt. $ETH ‌$KERNEL ‌$AAVE ‌