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$13B Exits DeFi in 48 Hours After Kelp DAO's Exploit | CoinDesk Daily

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CoinDesk

Tech News, Business News, Daily News, News

4.7698 Ratings

🗓️ 20 April 2026

⏱️ 1 minutes

🧾️ Download transcript

Summary

Kelp DAO's $292 million exploit wipes $13 billion from DeFi. A $292 million exploit of Kelp DAO's cross-chain bridge has wiped $13 billion from DeFi in two days, with Aave alone losing $8.45 billion in deposits. LayerZero attributes the attack to North Korea's Lazarus Group and blames Kelp's single-verifier setup. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Transcript

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0:00.0

The biggest defy exploit of 2026 just wiped out $13 billion.

0:09.4

A $292 million attack on Kelp Dow's cross-chain bridge has wiped out more than $13 billion from defy in 48 hours.

0:17.8

Layer Zero is attributing the exploit to North Korea's Lazarus Group, blaming Kelp's

0:21.8

single verifier set up. Avey took the biggest hit, losing almost $8.5 billion in deposits.

0:28.7

Michael Saylor's strategy wants to pay STRC preferred shareholders twice a month instead of once.

0:34.6

The 11.5% annualized rate doesn't change, but the payouts would split into

0:39.1

roughly two-week intervals. The goal is to keep STRC's price closer to its $100 par value,

0:44.8

because when it drops below, strategy can't use its at-the-market program to fund Bitcoin purchases.

0:50.1

If shareholders approve the change in June, STRC would become the only semi-monthly preferred stock in the U.S. market.

0:57.1

And Tom Lee's Bitmine now holds 4.87 million ether worth $10.7 billion

1:02.2

after scooping up another 71,500 eath last week.

1:06.9

Lee is calling Ether the wartime store value,

1:09.3

pointing to each 17% gain since the Iran conflict began seven weeks ago.

1:14.1

Bitmine is 81% of the way to its goal of owning 5% of all ether.

1:19.5

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