Kelp DAO's rsETH bridge exploited for $292M; Aave freezes rsETH markets to assess bad debt exposure.
Security & Exploits ·
An exploit targeting Kelp DAO's rsETH cross-chain bridge resulted in the drainage of approximately 116,500 rsETH tokens, equivalent to roughly $292 million at prevailing market rates. The attack leveraged LayerZero-related contract calls to execute the theft.
In response, Kelp DAO halted core contracts to prevent further losses and initiated an investigation in coordination with LayerZero and Unichain. Separately, Aave moved to freeze rsETH markets and began evaluating its exposure to potential bad debt stemming from the incident.
The full scope of downstream impacts across other platforms and the results of the ongoing investigation remain unclear at this stage.