Crypto
DeFi Hit by $293M Exploit, Exposing Core Weakness
A massive $293 million exploit on Kelp DAO has shaken the DeFi world, exposing a critical architectural flaw in cross-chain bridges. The attack, which drained RS ETH, triggered a cascade of events including a bank run on Aave and significant losses across the DeFi ecosystem. This incident highlights the risks of relying on single points of failure in decentralized finance.