Member-only story
Curious Cryptos’ Commentary 20th April 2026 > > Another bad day for DeFi
Mark Timmis4 min read·22 hours ago--
tl;dr
An exploit of the Kelp DAO threatens the reputation of Aave in particular, and of DeFi in general.
Market Snap
Market Wrap
Whisper it quietly, but on-chain indicators are all turning very positive, leading some to brazenly claim that the bear market is already over and the next explosive bull has already started.
Oh, let us hope they are right. 2026 might get exciting after all.
Curious Cryptos’ Commentary — Another day, another DeFi exploit
I exaggerate, but after the recent exploit of Hyperbridge (https://www.curiouscryptos.com/post/16th-april-2026-is-defi-fundamentally-broken) this new fraud, similar in many respects to that exploit, is most unwelcome.
First, let’s start with a gentle introduction to the world of staking and re-staking.
The PoS (proof-of-stake) consensus mechanism relies on holders staking their coins by committing those coins to one of many validators. For each block, a validator is chosen at random, in proportion to the number of coins staked with that validator, to create that block in exchange for which it receives rewards which are then shared with the stakers. Those rewards come from both…
