DeFi hit by $600M-plus in security losses; TVL slips to $82.4B

ME News reported that as of April 21 (UTC+8), a string of security incidents has inflicted more than $600 million in losses across the DeFi market. The largest case was an attack on the Kelp DAO cross-chain bridge, estimated at about $292 million. DeFi total value locked (TVL) has fallen to roughly $82.4 billion, down about 25% from around $110 billion at the start of 2026, including an intraday drop of approximately 5.6%. Lending has taken the biggest hit, with TVL down around 13%. Aave has frozen rsETH to curb risk spillover, a move that has also tightened liquidity in some stablecoin markets. A loss-allocation plan has yet to be clarified, with disputes continuing among LayerZero, Kelp, and other parties. Preliminary analysis points to a cross-chain validation misconfiguration as a likely cause. (Source: MLion)