The Aftermath of KelpDAO Exploit Is Brutal: Aave Loses $8.5B TVL in 48 Hours – Is Your Crypto Safe?

It started with KelpDAO, a relatively small $20 million project. Now the fallout is everywhere. Wise Advise summarized the carnage on X. Aave’s total value locked (TVL) plunged from over $26 billion to $17.3 billion – a loss of $8.5 billion in just 48 hours. DeFi as a whole lost $13.2 billion across all chains.