DeFi Suffers Record-Breaking Losses Exceeding $600 Million

The decentralized finance (DeFi) sector has absorbed over $600 million in losses over the past three weeks, driven by a string of platform exploits.

The most recent and largest exploit came on Saturday, when an attacker drained $292 million from Kelp DAO's cross-chain bridge. This sent sector-wide metrics to their lowest point in a year.

Total value locked across DeFi fell to approximately $82.4 billion, down 25% from the $110 billion recorded at the start of 2026.

Lending markets bore the steepest losses, with TVL falling around 13%. Smaller breaches at Resolv Labs, Hyperbridge, and Rhea Finance added to the cumulative total.