Crypto Community Reels After Major Hack Exposes DeFi Risks

The $292 million hack of Kelp DAO has triggered a wave of reactions across the crypto industry, with many warning of deeper flaws in the way DeFi is constructed. The incident has led to a significant decline in deposits, with the total value locked in DeFi protocols dropping from $26.4 billion to nearly $20 billion. Developers are now urging projects to review their configurations, particularly those relying on cross-chain messaging, to prevent similar exploits in the future.