# Decentralized finance (DeFi) was “bent, not broken” after a $292 million exploit on April 18.

*fintech · news · 2026-04-29 · CoinDesk*

## Key points

- KelpDAO's $292 million exploit triggered a 38% drop in AAVE deposits and a DeFi liquidity crunch.
- AAVE and allied firms committed $300 million to restore stability after the exploit, helping yields normalize.
- Standard Chartered forecasts tokenized real-world assets could reach $2 trillion market cap by end-2028.
- AAVE’s V4 upgrade and the Ethereum Economic Zone are being accelerated to reduce cross-chain bridge risks.
- JPMorgan estimates DeFi lost $20 billion in capital due to the KelpDAO exploit's ripple effects.

**Companies:** Standard Chartered, JPMorgan, AAVE

[Read the full story on CoinDesk](https://www.coindesk.com/business/2026/04/29/defi-shaken-by-usd292-million-hack-but-showing-resilience-standard-chartered-says)

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