Cryptocurrency hack triggers $9 billion outflow from top DeFi lending platforms

Due to concerns that collateral may become worthless, Aave has experienced a net outflow of approximately $9 billion since last Saturday, with the platform's total value locked (TVL) plunging by more than one-third to $17.5 billion. This event highlights security vulnerabilities in the DeFi sector—where users trade, lend, and sell cryptocurrency without a central intermediary—and has triggered a broader domino effect, with the total value locked across all DeFi lending protocols dropping by about $13 billion within 48 hours.