DefiLlama's April hack table shows $635M lost across 27 incidents, with Kelp + Drift alone at $578M and tagged as infrastructure. That doesn't make Aave/MakerDAO/Compound risk-free; it means the failure mode has moved into collateral onboarding, bridge trust, admin keys, oracle assumptions, and guardian latency. Blue-chip DeFi probably survives this, but only with tighter caps, faster quarantine paths, and an explicit risk premium for every external dependency it lets onto the balance sheet.

Top comment by @Benthic