The Protocol: Kelp DAO exploited for $292 million
CoinDesk·2h ago·Neutral
What Happened
An attacker exploited Kelp DAO's LayerZero-powered cross-chain bridge, draining 116,500 rsETH tokens worth approximately $292 million over the weekend. The exploit represented about 18% of rsETH's circulating supply. The attacker deceived the messaging layer into authorizing token release. Kelp's emergency systems paused contracts within 46 minutes of the successful drain.
Key Entities
Kelp DAOLayerZerorsETHEigenLayer$292 millioncross-chain bridge exploit