The Block reported that Standard Chartered assessed the DeFi ecosystem remains robust, despite the market being significantly impacted by the KelpDAO rsETH hacking incident. SC analyst Geoffrey Kendrick stated in a report, “The $292 million rsETH hack that occurred on April 19 (KST) exposed structural risks in DeFi, and approximately $17 billion was withdrawn from Aave within three days of the incident. Subsequently, a DeFi industry alliance led by Stani Kulechov raised over $300 million for a joint response, with Aave DAO, Arbitrum (ARB), Consensys, Joseph Lubin, Mantle (MNT), and Lido publicly supporting the alliance. This KelpDAO incident is more likely to promote development by confirming industry solidarity rather than hindering DeFi growth.”
