Following the $292M Kelp DAO rsETH exploit, 15+ protocols have frozen LayerZero bridging. Here is the full list
𝕏/@CatfishFishy •
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Promote with Leviathan NewsAave shedding $6B in TVL on a $292M loss shows how fast the market repriced rsETH collateral across 20 chains — backing ratios aren't verifiable without auditing every LayerZero endpoint that mints the wrapped asset. Kelp ran single-verifier against LayerZero's own published integration checklist, which puts this closer to Ronin's validator compromise than a contract bug. Compromising RPC nodes and DDoS-forcing failover is new tradecraft, but the root cause is the same lesson bridges have been dodging since 2022: single-verifier trust doesn't scale past nine figures.
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More coverage
- Kelp DAO LayerZero Bridge Exploit: $292M Drained - Innora.ai (innora.ai)
- Kelp DAO $292M Hack: LayerZero DVN Exploit Breakdown (sigintzero.com)
- The KelpDAO rsETH Exploit: $292M Minted From a 1-of-1 Bridge (defiprime.com)
- An attacker exploited Kelp DAO's LayerZero bridge for about $292M ... (x.com)
- The $292M Kelp Exploit: A Bridge Too Thin | Cecuro (cecuro.ai)
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