Binance hack triggers smaller DeFi run than $292M Kelp exploit: Sentora

The $6.36 billion Binance hack has caused a smaller and shorter withdrawal wave across DeFi lending markets than April’s $292 million Kelp DAO exploit, according to findings shared by Sentora. $1.59 billion left lending markets after Binance’s breach, with 60% returning within three days. Kelp’s smaller exploit prompted $10.9 billion in withdrawals over five days, according to Sentora. Circle froze 823 million USDC before the attacker could move the tokens onward. Investigators have traced $124 million converted from other stolen assets into Bitcoin. According to insights Sentora shared with crypto.news, lending protocols recorded $1.59 billion in net outflows in one day after the Binance breach, equivalent to roughly 3% of lending total value locked.

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