Kelp DAO rsETH Bridge Hack Drains $292M as DeFi Losses Top $600M in Two Weeks

TLDR: An attacker drained 116,500 rsETH worth $292M from Kelp DAO’s LayerZero-powered bridge in one attack. Stolen rsETH was deposited on Aave, Compound, and Euler as collateral to borrow ETH, creating bad debt. Kelp DAO paused rsETH contracts on Ethereum mainnet and multiple L2s while coordinating with security experts. Over $600M was stolen from more [...]

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