A $20 billion hit from the KelpDAO exploit highlights systemic risks, while flat ETH-denominated growth and a shift to stablecoins point to ongoing fragility in DeFi. JPMorgan said hacks and stagnant capital levels in decentralized finance continue to weigh on DeFi’s institutional appeal, highlighted by a $20 billion hit from the KelpDAO exploit. Bridge and infrastructure exploits remain the main risk, with losses tracking 2025 levels and undermining trust. Investors are rotating into stablecoi…
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