# How KelpDAO's $290M Exploit Nearly Killed DeFi | Stani Kulechov & Mike Silagadze

Page: https://stenobird.com/podcast/empire-1487353/how-kelpdao-s-290m-exploit-nearly-killed-defi-stani-kulechov-mike-silagadze
Text version: https://stenobird.com/podcast/empire-1487353/how-kelpdao-s-290m-exploit-nearly-killed-defi-stani-kulechov-mike-silagadze.md
Podcast: [Empire](https://stenobird.com/podcast/empire-1487353)
Published: 2026-05-04T12:06:00+00:00
Episode link: https://chrt.fm/track/713ACD/traffic.megaphone.fm/BWG6669193136.mp3
Audio file: https://chrt.fm/track/713ACD/traffic.megaphone.fm/BWG6669193136.mp3
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JSON: https://stenobird.com/v1/public/podcasts/empire-1487353/episodes/how-kelpdao-s-290m-exploit-nearly-killed-defi-stani-kulechov-mike-silagadze
Duration seconds: 3564

## Resource

This week, Stani Kulechov & Mike Silagadze join the show to discuss the aftermath of the KelpDAO exploit. We deep dive into why this hack could have potentially killed DeFi, launching the DeFi United fund, how to mitigate against future hacks, why DeFi tokens are uninvestable and more .Enjoy! -- Follow Stani: https://x.com/StaniKulechov Follow Mike: https://x.com/MikeSilagadze Follow Jason: https://x.com/JasonYanowitz Follow Empire: https://x.com/theempirepod -- This episode is brought to you by Fidelity Crypto. Learn more at https://Fidelity.com/crypto Fidelity Crypto was built in-house with over a dozen years of crypto experience. So you can trade crypto and stocks in one place at Fidelity, backed by industry-leading security. Fidelity Crypto. We're here to help you feel good about investing in crypto. Crypto is offered by Fidelity Digital Assets, NA, is not insured by FDIC or SIPC and includes risk of complete loss. Securities offered by Fidelity Brokerage Services, LLC. Member NYSE, SIPC. -- Timestamps: (00:00) Introduction (04:08) How The KelpDAO Exploit Could Have Killed DeFi (14:13) Fidelity Crypto Ad (14:48) Launching DeFi United (30:12) Fidelity Crypto Ad (30:52) The Future of Aave & EtherFi (39:00) DeFi’s Speculative Premium (43:00) How To Prevent DeFi Hacks? (53:00) Why DeFi Tokens Are Uninvestable -- Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, Rob and our guests may hold positions in the companies, funds, or projects discussed.

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## Transcript

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