The $292 million Kelp exploit: how it happened, and what it means for DeFi

2026 is shaping up to be DeFi's "worst year in terms of hacks," Ledger's CTO said, as the Kelp exploit shows how a single point of failure can cascade across systems. What to know : A major $292 million exploit of KelpDAO is rippling across the DeFi sector. The incident is a reminder that as DeFi protocols become increasingly interconnected, a single weak link can ripple across the stack. Trust in DeFi "eroded" as 2026 will "most likely be the worst year in hacks," Ledger's Guillemet said.