Echo Protocol Hack Autopsy: The $76 Million Exploit That Wasn’t Really a Hack

2026 DeFi losses crossed $1 billion in four months, with April alone draining $634 million across 28+ incidents, the worst month on record. Drift ($285M) and KelpDAO ($292M) alone accounted for $577 million of April’s losses, and neither was a code exploit. DefiLlama’s 2026 hack breakdown tells the same thing. The biggest slices are LayerZero