The global cryptocurrency market cap now stands at $2.53T, down by 2.17% over the last day, according to CoinMarketCap data.
Bitcoin (BTC) has been trading between $74,868 and $76,700 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $75,092, down by 1.93%.
Most major cryptocurrencies by market cap are trading mixed. Market outperformers include REQ, PROM, and GTC, up by 69%, 26%, and 22%, respectively.
Risk-Off Tape as DeFi “Plumbing” Breaks: KelpDAO Exploit Triggers Bridge Halts and Liquidity Flight
Total crypto value (-2.17%) and BTC (-1.93%) slipped as a KelpDAO attack—centered on unauthorized rsETH minting and downstream borrowing—reignited fears around liquid restaking design and DeFi composability. LayerZero’s OFT ecosystem went into caution mode, with 15+ protocols suspending bridge functionality and major venues freezing rsETH-linked markets and vaults to prevent spillover. The most visible pressure point was Aave, where withdrawals surged and rates jumped as liquidity drained.
KelpDAO Suffers Major Exploit Resulting in Significant Losses
Key Takeaways:
116,500 rsETH illicitly minted
~$293M estimated total losses
Aave used as exploit vector
Summary:
KelpDAO suffered a major security breach on April 19 in which an attacker exploited the protocol to mint 116,500 rsETH tokens without authorization, resulting in estimated losses of approximately $293 million. The hacker deposited the majority of the illicitly minted rsETH into Aave as collateral to borrow ETH, while selling a smaller portion directly for ETH, ultimately acquiring 106,466 ETH in total. The incident highlights ongoing risks in liquid restaking protocols, particularly around minting access controls and the use of DeFi lending markets to liquidate exploited assets. The breach adds to a pattern of large-scale DeFi exploits targeting restaking infrastructure in 2026.
Multiple Protocols Suspend LayerZero OFT Cross-Chain Bridge Following Attack
Key Takeaways:
15+ protocols suspend OFT bridge
$2.92B estimated attack losses
User assets unaffected by suspensions
Summary:
More than 15 DeFi protocols, including Ethena, TRON DAO, ether.fi, and Euler Labs, have temporarily suspended the LayerZero OFT cross-chain bridge function as a precautionary measure following the exploit of KelpDAO's rsETH cross-chain bridge, which resulted in estimated losses of approximately $2.92 billion. The affected protocols confirmed no direct exposure to rsETH and stated that user assets remain secure, with the suspensions described as temporary. Separately, Aave V3/V4, SparkLend, Lido, and Fluid implemented targeted freezes on rsETH-related markets and vaults as chain risk controls without halting bridge operations. The incident adds to uncertainty across cross-chain infrastructure and highlights systemic contagion risks when a widely integrated bridge asset is compromised.
Aave Experiences Significant Capital Withdrawal
Key Takeaways:
$6.6B single-day outflows
Stablecoin deposit rate hits 13.4%
$3.3B stablecoin liquidity drain
Summary:
Aave experienced $6.6 billion in total withdrawals in a single day, with $3.3 billion attributed to stablecoin outflows, according to on-chain data cited by blockchain analyst EmberCN. The capital exodus drove stablecoin deposit rates for USDT and USDC to 13.4% and borrowing rates to 15%, reflecting a sharp tightening of liquidity on the platform. The withdrawal surge follows the KelpDAO rsETH exploit and subsequent protocol freezes, which appear to have triggered broader risk-off behavior among Aave depositors. The elevated rates add to uncertainty around near-term protocol stability while presenting yield opportunities for high-risk DeFi participants.
Sberbank Says It Will Offer Crypto Trading Access Once Russian Regulation Is in Place
Key Takeaways:
Regulation-contingent crypto launch
300,000 ruble retail purchase cap
Margin and AI investment products planned
Summary:
Sberbank has indicated it is ready to offer clients cryptocurrency trading access, including margin products and AI-driven investment strategies, once Russia establishes formal regulation and organized exchange trading infrastructure. The Bank of Russia published a regulatory concept in December 2025 classifying digital currencies and stablecoins as tradeable currency assets, while restricting their use for domestic payments. Non-qualified investors would face a competency test requirement and an annual purchase limit of 300,000 rubles (~$3,934) per intermediary. The announcement marks a step toward institutionalized retail crypto access in Russia, contingent on the finalization of the pending legislative framework.
AI TRENDS | OpenClaw Access to X API Introduced with Cost Adjustments
Key Takeaways:
Owned Reads cut to $0.001
Post fees rise to $0.015–$0.20
Social actions removed from tiers
Summary:
X has restructured its API pricing effective April 20, reducing the cost of Owned Reads to $0.001 per request across 12 common endpoints while raising fees for regular posts from $0.01 to $0.015 and pricing URL-containing posts at $0.20. The changes accompany a new CLI tool version with SKILL.md support, enabling platforms including OpenClaw and Hermes to access the X API. Social engagement features — including following, liking, and quote retweeting — will be removed from all self-service tiers, narrowing the scope of API-accessible actions. The pricing shift signals X's move toward a read-heavy, lower-cost access model while monetizing content distribution more aggressively.
Market movers:
ETH: $2315.22 (-2.63%)
BNB: $620.26 (-2.40%)
XRP: $1.4193 (-2.15%)
SOL: $84.87 (-3.02%)
TRX: $0.3334 (+1.83%)
DOGE: $0.09376 (-3.30%)
U: $0.9996 (+0.01%)
WBTC: $74923.3 (-1.98%)
XAUT: $4775.23 (-0.58%)
BCH: $439.4 (-2.40%)