Kelp DAO hack becomes largest DeFi theft

Decentralized finance (DeFi) platform Kelp DAO has suffered a massive exploit, with hackers reportedly stealing approximately $293 million. This incident, reported on April 19, has sent shockwaves through the cryptocurrency space, triggering a significant ripple effect across various platforms. The sheer scale of this theft makes it the largest DeFi exploit recorded in 2026, highlighting critical security weaknesses and the substantial financial risks inherent in the rapidly evolving DeFi ecosystem.