Kelp DAO exploit sparks $10B Aave outflows as Polymarket prices another $100M+ hack as a sure thing

CoinDesk reports that Kelp DAO was hit by a $293 million hack, prompting about $10 billion in withdrawals from Aave as DeFi users reassessed counterparty risk. On Polymarket, a contract tracking whether another hack causing losses above $100 million will occur before year-end is currently priced at "100% Yes," with 255 days remaining. Traders appear increasingly focused on potential contagion, though a clear market-wide response has yet to emerge. Bitcoin fell to $60,000 in April. The attack is believed to have been carried out by private cybercriminals, intensifying questions over whether institutional investors will slow their push into DeFi. The Kelp DAO incident is described as the largest single DeFi attack so far this year, totaling $293 million in losses. The relevant prediction markets have not disclosed denominations, a structure that can amplify price swings even on small trades. If new vulnerabilities surface or blockchain security firms publish meaningful updates on emerging exploit patterns, implied probabilities could shift by as much as 30%. Chainalysis and CertiK are seen as likely sources of research on mitigations or newly identified vulnerabilities. API CTA: Access prediction-market intelligence via structured API sources. Join the waitlist early.