Kelp DAO's rsETH Bridge Exploited for $292M Across 20 Networks
Kelp DAO's rsETH bridge was attacked via a LayerZero-based exploit, resulting in approximately $292 million in losses. Wrapped ether became inaccessible across 20 blockchain networks following the breach. The protocol's emergency multisig paused core contracts roughly 46 minutes after the exploit was detected.
A $292 million exploit is one of the largest DeFi bridge hacks in recent memory and directly threatens anyone holding rsETH or assets locked in Kelp DAO's ecosystem. Bridge exploits tend to trigger broad risk-off sentiment across liquid staking and restaking tokens — expect near-term pressure on ETH restaking derivatives and LayerZero-connected protocols. Confidence in cross-chain infrastructure, already fragile after past bridge hacks, takes another significant hit.
Ongoing: Kelp DAO post-mortem and recovery plan announcements via their official channels. Watch for any LayerZero protocol audit disclosures. Monitor rsETH and ezETH price action on major DEXs for depeg signals.
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