DeFi 领域一年损失 9.42 亿美元:投资者应关注哪些动向?
去中心化金融(DeFi)领域经历了动荡的一年。仅 2026 年一年,就发生了 121 起独立安全事件,导致近 9.42 亿美元的损失。行业数据显示,攻击活动显著激增,凸显了 DeFi 协议中持续存在的脆弱性。随着市场参与度的减弱,投资者信心承受着巨大压力,也引发了关于行业风险管理的诸多关键问题。
第二季度损失加速
根据 CryptoRank 的数据,2026 年第二季度是加密货币行业最具破坏性的时期之一。短短三个月内,发生了 85 起不同攻击事件,被盗金额约 7.75 亿美元。仅这一个季度,就占到了全年总损失金额的 80% 以上,成为 DeFi 漏洞利用史上损失最为惨重的季度。
数据还显示,与次活跃的季度相比,该季度的攻击事件数量激增了 49 起;然而,财务总损失并未超过此前的峰值时期。这主要是因为该季度仅发生了两起真正大规模的入侵事件。与 Drift Protocol 和 KelpDAO 相关的损失超过 5.9 亿美元,几乎占到了全年 DeFi 总损失的一半。
CryptoRank 强调,仅第二季度就占据了年度损失的 80% 以上,这充分揭示了 DeFi 生态系统中攻击技术进化的速度之快。
重大入侵事件:Drift Protocol 与 KelpDAO 成为焦点
CryptoRank pointed out that in a coordinated social engineering attack, approximately $285 million in assets was stolen from Drift Protocol users. Blockchain intelligence company TRM Labs has linked this incident to a hacking group. According to reports, the attacker lured members of Drift\'s security committee into approving seemingly routine transactions that secretly granted higher authority to malicious actors.
Small Dictionary: Social engineering is an attack method that exploits human behavior rather than technical loopholes. Attackers gain access to critical systems by deceiving authorized personnel to approve seemingly harmless operations.
Just a few weeks later, the notorious Lazarus group targeted KelpDAO, exploiting a vulnerability in the LayerZero bridging infrastructure. Hackers stole approximately $290 million in rsETH. KelpDAO is a DeFi protocol built around re-pledging assets.
According to Chainalysis, the attacker took control of the verifier infrastructure, forged cross-chain messages, and successfully minted tokens on Ethereum without having to destroy corresponding assets on Unichain.
Chainalysis explained that the attacker seized the protocol\'s validator infrastructure, generated fraudulent cross-chain messages, and circumvented security checks. This opens the door to minting tokens on the Ethereum network without having to destroy equivalent assets on Unichain, creating a critical exploit path.
Small Dictionary: LayerZero is an interoperability platform designed to facilitate the transfer of assets and messages between different blockchains. Vulnerability in its verification layer can lead to fraudulent cross-chain activities.
Capital flight intensifies, total lockups fall
The increase in DeFi intrusions coincides with already weak market conditions. CryptoRank observed that DeFi\'s total locked positions (TVL) declined monthly throughout the year, slipping from approximately $115.3 billion in January to just over $70 billion at the end of June. Although security breaches are not the only reason, experts say a series of high-profile incidents have further accelerated capital outflows.
The attack on KelpDAO significantly increased market pressure. The loan agreement Aave experienced an outflow of approximately $12 billion in funds in less than 24 hours. The sharp divestment caused Aave\'s TVL to plummet from $26.4 billion to $14.3 billion, highlighting the knock-on effect of a loss of trust on major agreements.
Indicator comparison:
Annual TVL: From US$115.3 billion to just over US$70 billion
Aave TVL: From $26.4 billion to $14.3 billion
The divergence between blockchain platforms intensifies
Analysts emphasize that the current situation is significantly different from the collapse of the entire DeFi sector in 2021 and 2022. CryptoRank points out that there is now a broader supply of stablecoins, tokenization of real-world assets, and greater decentralization of capital into lending, derivatives and infrastructure layers.
Looking at each chain platform, Tron and Hyperliquid are the only two networks that will achieve TVL growth in 2026. In sharp contrast, Plasma and Arbitrum experienced the steepest declines, highlighting how industry turmoil has led to divisions between different blockchain ecosystems.

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