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Standard Chartered says DeFi system 'bent not broken'
short by / on Wednesday, 29 April, 2026
Standard Chartered called the $292 million DeFi hack on Aave a "bank run" but deemed the crypto system "bent, not broken." Roughly 116.5K restaked ETH was withdrawn from Aave, causing significant outflows. Protocols functioned despite the liquidity stress. The bank framed the event as a system-wide stress test rather than an infrastructure collapse.
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