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DeFi Survives Hacks, Eyes $2T Market
Description
DeFi Faces Challenges: AAVE and Others Step Up After $292M Hack on KelpDAO
The DeFi sector suffered a significant blow with a $292M exploit on KelpDAO, leading to a liquidity crunch and a digital bank run. Cross-chain bridges and smart contract vulnerabilities exacerbated the situation, causing a loss of trust and potential regulatory scrutiny. However, AAVE and other DeFi players injected over $300M to stabilize the market. Upgrades like AAVEs version four and the Ethereum Economic Zone aim to reduce bridge reliance, a major attack target. Despite hurdles, tokenized real-world assets are expected to reach a $2T market cap by 2028.
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