Kelp DAO hit for $292 million exploit with wrapped ether stranded across 20 chains
CoinDesk
Kelp DAO lost $292 million in rsETH after an attacker exploited its LayerZero-powered bridge, impacting liquidity across over 20 blockchain networks.Summary
Kelp DAO suffered a massive $292 million exploit on Saturday when an attacker drained 116,500 rsETH, representing approximately 18% of the token's circulating supply. By manipulating LayerZero's cross-chain messaging, the attacker compromised the bridge reserves backing wrapped tokens across more than 20 blockchains. This incident triggered emergency freezes across major DeFi platforms, including Aave, SparkLend, and Fluid, as the industry faces contagion concerns and significant market volatility.
(Source：CoinDesk)