The $13 billion DeFi wipeout in two days, and it started with KelpDAO attack

In a shocking turn of events, the decentralized finance (DeFi) sector experienced a staggering $13 billion loss within just two days, triggered by a security breach at KelpDAO. The attack exploited vulnerabilities, leading to significant financial repercussions across multiple platforms. As investors and users scrambled to assess the fallout, the incident sparked renewed discussions about the need for enhanced security measures in the rapidly evolving DeFi landscape. This wipeout not only highlights the risks inherent in decentralized systems but also underscores the urgency for stronger protocols to protect assets in the face of increasing cyber threats.