Kelp Dao

The Kelp DAO exploiter laundered nearly $220 million of stolen funds, leaving only $71 million frozen by Arbitrum’s Security Council. This action reduces the chances of recovering the majority of the stolen assets.

Kelp DAO announced that sETH minting, redemptions, and rewards operations are functioning smoothly after restoring rsETH five weeks following a $293 million protocol hack. Withdrawals for the token were reopened earlier this month.

Lombard Finance is moving its $1 billion in Bitcoin assets away from LayerZero after the Kelp DAO exploit resulted in a loss of $292 million. The company will now use Chainlink to power its assets. This change follows a significant financial loss due to the exploit.

Chainlink CCIP has gained over $2.5 billion in TVL from protocols migrating from LayerZero, with Kraken Bitcoin being the latest to join. This migration follows the Kelp DAO attack, which led to multiple products deprecating their LayerZero cross-chain tech. Kraken Bitcoin is at least the fourth product to make this move.

Kraken is migrating its wrapped Bitcoin technology to Chainlink due to security concerns following a $292 million exploit of Kelp DAO last month. This move marks Kraken's shift away from LayerZero tech. The decision comes after a significant financial loss

Over $770 million has been stolen in DeFi this year, with 40+ protocols shutting down due to bridge exploits, highlighting a fundamental problem with the bridge model. The largest single-day losses are often caused by bridges, which are designed as massive honeypots. Alternative solutions like data availability layers exist and are production-ready.

Kelp DAO has burned the exploiter's tokens and outlined a plan to refill rsETH through Aave's Recovery Guardian multisig wallet. The plan aims to complete the refilling process within two weeks. This move comes after attackers' rsETH on Arbitrum was burned.

Kelp DAO was exploited for $292 million on April 18 by attackers suspected to be part of North Korea's Lazarus Group, but is resuming rsETH operations as recovery progresses. The exploit occurred recently and the amount stolen was significant. Recovery efforts are underway.

LayerZero issued a public apology for their response to the Kelp DAO exploit and admitted fault in their single-verifier setup. They also disclosed a previously unreported incident involving a multisig signer. The incidents highlight security concerns with LayerZero's systems.

The Kelp DAO exploit has led to a $293 million loss, prompting DeFi protocols like Solv Protocol to migrate to Chainlink infrastructure due to risks in third-party bridge and oracle setups. This move aims to improve security and reliability. DeFi projects are rethinking their oracle providers after the exploit exposed significant vulnerabilities.

Arbitrum DAO voted to release $70 million for Kelp DAO exploit relief, but a U.S. Court restraining notice has put the transfer in legal jeopardy. The approved transfer is now uncertain due to the court notice. Arbitrum DAO's decision aims to provide relief to the Kelp DAO exploit.

Arbitrum DAO has approved a $70 million ETH release for Kelp DAO recovery, but a court order has restricted the movement of recovered funds, leading to an emergency motion by Aave. The court order was issued on May 1. The situation is currently unresolved.

Solv Protocol has dropped LayerZero in favor of Chainlink for a $700 million tokenized bitcoin project, citing security concerns as the reason. This decision comes after a recent exploit of LayerZero-powered Kelp DAO. The move aims to enhance security measures.

Solv Protocol is migrating its $700M tokenized Bitcoin infrastructure to Chainlink due to security concerns, following Kelp DAO's decision after blaming LayerZero for a hack. This move aims to enhance security and reliability. Solv Protocol's decision may impact the cryptocurrency and blockchain industry.

Aave is recovering from bad debt after Kelp DAO hack, now only 10% short. The hack affected Aave's lending protocol on Ethereum and Arbitrum. Galaxy Digital's Thaddeus Pinakiewicz noted the progress.

Aave took action against a Kelp DAO attacker by manipulating its rsETH oracle price to generate a deficit in the attacker's position. The governance process was required to liquidate the attacker's remaining rsETH positions. This move aims to mitigate the damage caused by the fraudulent activity.

Kelp DAO is migrating rsETH to Chainlink CCIP, amid a blame game between parties involved. Bryan Pellegrino, co-founder and CEO of LayerZero, disputes Kelp DAO's accusations. A postmortem report by external security firms will be published soon.

Kelp DAO has ditched LayerZero for Chainlink's cross-chain infrastructure after a $292 million exploit. The attack was blamed on LayerZero's default infrastructure setup, which used a 1-of-1 configuration. This change aims to improve security

A federal case is underway to unfreeze $71 million in crypto assets, which could set a precedent for DeFi recovery funds being seized to satisfy unrelated judgments. The case involves Aave and Kelp DAO. The outcome may have significant implications for the cryptocurrency industry.

Aave LLC is fighting a court-ordered freeze of $73 million in ether tied to the Kelp DAO exploit, arguing that a thief does not own stolen assets. The company filed an emergency motion in federal court to lift the order. The case is related to last month's Kelp DAO exploit.

Plaintiffs seeking to collect on unsatisfied terrorism judgments against North Korea are attempting to seize frozen ETH from Kelp DAO ahead of a DeFi United vote. The plaintiffs are not victims of the Kelp DAO hack but families pursuing debts tied to North Korea's terrorism-related liabilities.

The Arbitrum DAO has initiated a vote to release 30,766 frozen ETH to DeFi United, following a security incident involving the Kelp DAO attacker who transferred funds to an Arbitrum One address. The Arbitrum Security Council previously froze these funds.

In April, $805 million was lost through DeFi hacks targeting platforms like Kelp Dao, Drift Protocol, and Grinex. Attacks involved methods such as social engineering and domain hijacking, with North Korea-backed Lazarus Group suspected as the primary threat actor.

Recent DeFi exploits have resulted in over $800M in reported losses, with multiple protocols including Kelp DAO, Drift, and Wasabi affected. Key vulnerabilities highlighted include compromised deployer keys and smart contract flaws, underscoring ongoing security challenges in the DeFi ecosystem.

Cumulative crypto losses have exceeded $17 billion across 518 incidents since 2016, with private key compromises causing $3.6 billion in thefts. 2025 was the worst year with $4.04 billion stolen, and the 2026 Kelp DAO rsETH bridge hack ($290-292M) highlights escalating risks as DeFi grows.

Aave and Compound have announced technical measures to address bad debt and restore full backing for rsETH tokens following a $290 million hack targeting Kelp DAO. The protocols aim to mitigate fallout by implementing solutions to stabilize the affected DeFi ecosystem.

DeFi United has announced a plan to restore rsETH following a $292 million exploit at Kelp DAO. The process involves converting ETH into rsETH in tranches and transferring the funds to the affected lockbox contract.

Aave-led 'DeFi United' relief effort successfully raised $300 million to cover losses from the Kelp DAO exploit. The initiative secured widespread support, ensuring commitments to replenish the stolen funds.

April 2025 saw $623M lost to crypto hacks, driven by two major exploits: $290M Kelp DAO and $280M Drift. This surpassed the first quarter's total losses and marked the worst month since the February 2025 Bybit breach, signaling systemic vulnerabilities in the industry.

Aave has raised nearly 80% of the $200 million required to cover bad debt resulting from the Kelp DAO exploit, indicating progress toward resolving the financial fallout.

Litecoin experienced a zero-day attack targeting its MWEB privacy layer, coupled with a coordinated Denial of Service (DoS) on major mining pools. The attack allowed invalid peg-outs, affecting protocols like Near Intents and THORChain, with potential losses up to $600k. DeFi protocols have seen over $750 million in exploits in 2026, including attacks on Kelp DAO and Solana-based Drift.

Aave has proposed a 25,000 ETH contribution to DeFi United to address the Kelp DAO exploit losses. Protocols and individual DeFi users have collectively pledged sufficient funds to cover these losses.

Lido has proposed allocating up to $5.8 million in staked ETH to address the shortfall caused by a $292-million exploit on Kelp DAO’s rsETH bridge. The move aims to mitigate financial losses from the recent security breach.

The wallet responsible for the Kelp DAO exploit has laundered nearly all $175 million in stolen Ether through THORchain, with an additional $71 million frozen by Arbitrum’s security council.

The wallet associated with the Kelp DAO exploit laundered nearly all 75,700 ETH ($175 million) through THORchain, while $71 million remains frozen by Arbitrum’s security council. The incident highlights vulnerabilities in decentralized finance protocols and ongoing efforts to recover stolen assets.

Kelp DAO was exploited in a security breach, resulting in a $292 million loss. The incident highlights vulnerabilities in decentralized finance protocols.

A $292 million exploit targeting the Kelp DAO highlights vulnerabilities in crypto bridges, which remain a critical weakness in the blockchain industry. The incident underscores ongoing security challenges in decentralized finance (DeFi) protocols.

Aave's total supplied balance dropped by $15 billion following the Kelp DAO bridge exploit, as users withdrew funds due to uncertainty about the protocol's ability to cover the shortfall. The incident highlights ongoing risks in decentralized finance (DeFi) lending platforms.

Aave's supplied balance has dropped by $15 billion following the Kelp DAO bridge exploit, as users withdraw funds due to uncertainty about the protocol's ability to cover rsETH-linked shortfalls.

North Korea was linked to over $578 million in cryptocurrency theft in April following the Kelp DAO exploit. Attacks attributed to DPRK-linked actors expanded across blockchain protocols, companies, and individual users.