DeFi hit by $600m in losses over three weeks; TVL slides 25% to $82.4bn

A string of security breaches has driven decentralized finance (DeFi) losses beyond $600 million over the past three weeks, deepening the sector's pullback. The downturn intensified after a $292 million exploit targeting the Kelp DAO bridge. Total value locked (TVL) has dropped to about $82.4 billion, roughly 25% below the near-$110 billion level seen at the start of 2026. The market also recorded a 5.6% single-day drawdown. Lending protocols have taken the biggest hit, with TVL down about 13%.