Bitcoin prices rebounded above $76,000 despite geopolitical tensions, while the decentralized finance sector faced a $14 billion exodus following a major $292 million exploit at KelpDAO.
Key Points
- Bitcoin rose 2.4% to surpass $76,000, supported by steady spot ETF inflows and reduced market leverage.
- The KelpDAO exploit resulted in a $292 million loss, triggering widespread contagion fears across lending protocols.
- Total value locked in DeFi protocols dropped by $14 billion to $85 billion, marking a one-year low.
- Aave experienced approximately $10 billion in withdrawals as users reacted to the security vulnerability.
- Volo Protocol separately lost $3.5 million in a vault exploit involving WBTC, XAUm, and USDC assets.