Stellar DeFi TVL Drops After Blend Pool Exploit
Stellar network DeFi TVL fell from $270M peak to $98M after a $717K exploit on the Comet AMM BLND-USDC pool backing Blend.
Stellar's total value locked in DeFi fell from a $270 million all-time high on August 22 to $98 million by August 27.
The drop followed an exploit on the Comet AMM BLND-USDC liquidity pool that backs the Blend protocol. The incident drained about $717,000 through a same-asset USDC swap bug.
Incident Details
Blend's own TVL fell from more than $150 million to near zero after the event. Full details on recovery timelines or any other affected pools remain unknown at this stage. No direct impact on XLM price or holders has been quantified in available reports.