In the last three days, the DeFi sector has seen an 8% decline in the total value of locked assets (TVL), falling to $40.31 billion, as per DeFiLlama data.

As of July 30, DeFi projects TVL stood at $43.81 billion but witnessed a sharp decline after malicious players attacked several Curve (CRV) pools on July 31. Following the attack, crypto investors began withdrawing their assets, totaling over $3 billion, across different protocols as contagion fears emerged.

Curve and Convex dominate losses

According to DeFiLlama data, two DeFi protocols—Curve Finance and Convex Finance—account for about two-thirds of the drop, with their TVLs falling by more than $1 billion each during the last three days.

Curve and Convex, two of the most prominent DeFi protocols in the crypto market, have a …