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The Defi Wiped Out $13 Billion In Two Days And It Started With KelpDAO Attack

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The decentralized finance (DeFi) ecosystem is experiencing a sharp capital outflow following this weekend’s exploitation of the KelpDAO protocol. Leading DeFi lending platform Aave has lost $8.45 billion in deposits over the past 48 hours, leading to a broader drop of $13.21 billion in total value locked (TVL) across DeFi. TVL refers to the combined […]

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Hack at Vercel sends crypto developers scrambling to lock API keys

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A breach at web infrastructure provider Vercel is forcing crypto teams to rotate API keys and perform a deep inspection of their underlying code. In a bulletin, Vercel said the hacker was able to get hold of behind-the-scenes settings that weren’t locked, potentially exposing API keys — the digital credentials apps use to connect to

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how it happened and what it means for DeFi

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A roughly $292 million exploit over the weekend has rattled the crypto industry, exposing vulnerabilities in decentralized finance (DeFi) infrastructure and raising concerns about spillover effects across lending protocols. While investigations are still ongoing, early analysis suggests the attack centered on Kelp’s rsETH token — a dividend-bearing version of ether (ETH) — and the mechanism

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Consensus Policy Summit Preview: Crypto Mode

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As readers of this newsletter may be aware, Congress has spent the last few months debating market structure legislation, but cryptopolitical discussions encompass so many more topics than just that one: taxes, decentralized financial regulations, midterm elections, states, and so much more. CoinDesk’s Consensus Miami conference next month will examine each of these questions in

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Here’s how the crypto community is reacting after a massive $292 million hack

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The $292 million exploit of the Kelp DAO has sparked a wave of backlash across the crypto industry, with developers and traders warning that the incident exposed deeper flaws in how decentralized finance (DeFi) is built. Data shared by market participants shows that the immediate fallout spread far beyond the hacked protocol. “rsETH hack leads

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Stablecoins can help businesses turn costs into revenue, but not everyone needs to issue a token:

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Stablecoins, the $300 billion class of digital dollars, may have started as a faster way to move money across the globe, but companies are now asking a different question: what can they actually do with them? That shift is driving a new phase of adoption, according to Chunda McCain, co-founder of Paxos Labs, who says

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RaveDAO’s RAVE Token Collapses 90% in One Day as Exchange Probes Expand

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Three wallets, one rejection, and $5.7 billion in market capitalization gone in 48 hours. RaveDAO’s RAVE crashed 90% in 24 hours as crypto exchanges Binance and Bitget opened investigations into the trading activity that catapulted the token to a $6 billion market cap last week. Bitget CEO Gracy Chen confirmed the investigation on X, and

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Aave records $6 billion TVL drop as Kelp hack exposes structural risk at DeFi lender

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Aave just saw $6.6 billion go out the door, and it’s not because someone hacked Aave. The protocol’s total locked-down value fell from $26.4 billion on April 18 to nearly $20 billion in the US morning hours on Sunday, as of DefiLlama. The AAVE token fell 16% to $92 and daily fees rose to $1.99

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France is facing the brunt of a rising violent crime wave against the crypto community

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France is facing a rise in crypto-related kidnappings as so-called “key attacks” become more frequent, brazen and violent. That shift was visible this week amid the holding of an annual international blockchain and crypto conference. A police motorcade escorted VIP guests to a dinner at the Palace of Versailles. And security was also particularly strengthened

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