Kelp DAO announced it will migrate its rsETH token to Chainlink's Cross-Chain Interoperability Protocol (CCIP) following a $292 million exploit of its LayerZero-powered bridge in April, which led to the theft of 116,500 rsETH. The stolen tokens were used as collateral on Aave, causing market stress and frozen assets. Kelp DAO disputes LayerZero's claim that the hack was due to a risky 1-of-1 verifier setup, asserting LayerZero approved this configuration and was aware of its use. LayerZero's CEO denies these claims, stating the 1-of-1 setup was not recommended and that rsETH was initially configured with a safer multi-verifier setup. Meanwhile, Aave is seeking court approval to release $71 million in frozen ETH linked to the hack, arguing the funds belong to affected users, not alleged North Korean hackers. This ongoing conflict highlights security challenges in DeFi cross-chain protocols and the legal complexities following major exploits.
Kelp DAO has completed the recovery of its rsETH token following a $293 million exploit in April 2026 linked to North Korea's Lazarus Group. The final batch of rsETH was transferred to the LayerZero OFT adapter, restoring full cross-chain bridge func...
Kelp DAO has finished the operational phase of its recovery plan for rsETH after a $293 million hack linked to North Korea’s Lazarus Group in April. The protocol restored token backing by transferring the final batch of rsETH and resumed normal minti...
Babylon Labs has submitted a proposal to Aave DAO to integrate native Bitcoin (BTC) as collateral on Aave V4 using Trustless Bitcoin Vaults, eliminating the need for bridges or custodians. This integration aims to utilize Aave's $5 billion supply of ...
Kelp DAO has finalized its recovery plan after a $292 million exploit that compromised rsETH tokens on its Ethereum bridge. The final batch of 20,373.72 rsETH was sent to the LayerZero OFT adapter, restoring normal operations including minting, redem...
Babylon Labs proposed an Aave V4 integration enabling borrowing against native Bitcoin collateral directly on the Bitcoin network, avoiding wrapped BTC, bridges, and custodians. The system uses Taproot-based vault scripts and introduces a non-transfe...
