Curve Founder Blasts 'Clown' DeFi Industry, Urges Ethereum-Led Security Standards

Curve Finance founder Michael Egorov slammed DeFi as an 'industry of clowns' and called for Ethereum and Solana foundations to lead unified security standards after the $300M KelpDAO rsETH exploit exposed single points of failure. The attack stole ~116,500 rsETH via a 1-of-1 verifier flaw, triggered $10B Aave outflows, Arbitrum's seizure of ~30,766 ETH from the attacker, and ~$14B DeFi exodus with TVL plunging across chains like Cosmos Hub. With Crypto Fear & Greed at 33, Egorov warned of eroding ETH trust and liquidity unless best practices are formalized to curb future shocks.