Tag Archives: KelpDAO

KelpDao Funding Move: Lido Proposes $6M Allocation Of Staked ETH To Bridge Shortfall

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KelpDAO’s liquid restaking token, rsETH, has become the center of a major DeFi recovery effort after a hack estimated at roughly $290 million. The latest development came on Thursday, when Lido Finance unveiled a proposal aimed at supporting Aave’s (AAVE) coordinated response to the rsETH shortfall.  Lido Joins rsETH Recovery Effort The Lido plan was… Continue reading KelpDao Funding Move: Lido Proposes $6M Allocation Of Staked ETH To Bridge Shortfall→

Arbitrum Freezes KelpDAO Hack Funds, Exposing Crypto’s Biggest Lie

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Arbitrum’s Security Council has frozen 30,766 ETH tied to the KelpDAO exploit, moving the funds out of an address on Arbitrum One and into an intermediary wallet that now requires further governance action to unlock. At roughly $71 million, the move was large enough on its own. What made it more consequential was the method:… Continue reading Arbitrum Freezes KelpDAO Hack Funds, Exposing Crypto’s Biggest Lie→

Crypto Community Slams LayerZero: More Verifiers Won’t Stop The Next $290M Hack

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LayerZero is facing heavy criticism for its response to the recent $290 million KelpDAO exploit after the omnichain interoperability protocol blamed Kelp’s 1-of-1 verifier configuration for the incident. LayerZero Blames KelpDAO For $290M Exploit Over the weekend, liquid restaking protocol KelpDAO was the victim of an attack that drained over $290 million in rsETH from… Continue reading Crypto Community Slams LayerZero: More Verifiers Won’t Stop The Next $290M Hack→