April DeFi exploits sparked roughly $13 billion in outflows, Binance Research says

A string of exploits in April drove roughly $13 billion out of decentralized finance, squeezing total value locked and pushing onchain leverage back to 2021 levels. Binance Research put the onchain leverage ratio at about 38%. The report tied the pullback to a cluster of attacks, including an exploit involving KelpDAO that reverberated across lending markets and decentralized exchanges.