Gate News message, April 21 — DeFi depositors faced withdrawal issues over the weekend across major protocols including Aave, rsETH, and LayerZero, prompting Curve Finance founder Michael Egorov to publicly criticize the industry’s architectural approach. “Are we an industry of clowns?” Egorov posted on X, arguing that the problem stems not from individual hacks but from systemic design flaws.
April alone has seen $606 million in DeFi losses, including the $292 million Kelp DAO drain and $285 million Drift exploit, bringing 2026 total losses to over $750 million. Egorov stated that these losses result from the industry repeatedly adding centralized single points of failure without adequate safeguards. He emphasized that such issues should be prevented before they occur, not addressed after, and that trust should be distributed rather than concentrated.
Egorov specifically called on the Ethereum Foundation and Solana Foundation to establish shared industry safety principles covering secure development, verification, and infrastructure configuration. When asked if Curve would lead by publishing its own security standards, Egorov indicated the protocol may formalize and share its risk management practices as a first step toward broader industry frameworks.
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