North Korean hacks drive $15B outflow from DeFi, souring sentiment

Investor sentiment in the DeFi market has soured this year amid a series of attacks by North Korea-linked hackers, DL News reported, citing data from DeFiLlama. According to the data, approximately $600 million in cryptocurrency has been stolen on-chain between January and April, with about $294 million of that total coming from the Kelp DAO hack. In the wake of these incidents, the total value locked (TVL) across major DeFi protocols has fallen by more than $15 billion. Aave alone saw an outflow of $10 billion, representing about 22% of its TVL, while Morpho (MORPHO) and Sky (SKY) experienced outflows of $1.7 billion and $600 million, respectively.