A recent $292 million cyber attack on April 18 has shaken the DeFi sector, but according to Standard Chartered, it has shown resilience. The attack on KelpDAO had a ripple effect on AAVE, the largest DeFi lender, leading to a sharp decline in liquidity and a bank-run-like scenario. Despite this, the bank expects tokenized real-world assets to reach a $2 trillion market cap by 2028, driven by growth in DeFi lending and stablecoin liquidity. The report highlights the sector's ability to respond to and learn from such incidents, with AAVE and other DeFi firms committing over $300 million to stabilize the system and implementing structural upgrades to reduce reliance on vulnerable cross-chain bridges.
