Kelp DAO pauses rsETH contracts after cross-chain bridge exploit estimated at about $292 million to $293 million
The Facts
- Kelp DAO reported suspicious cross-chain activity involving rsETH on Saturday and paused rsETH contracts across mainnet and several Layer-2 networks while it investigates.
- An attacker drained about 116,500 rsETH from Kelp DAO in the exploit.
- The losses from the exploit were estimated at roughly $292 million to $293 million.
- Reports say the exploit targeted Kelp DAO's rsETH cross-chain bridge or adapter contract built using LayerZero infrastructure.
- The exploit triggered broader disruption across DeFi platforms, with spillover effects reported beyond Kelp DAO.
- Aave took emergency action related to rsETH exposure after the Kelp DAO exploit, including freezing affected rsETH markets.
- Several reports described the Kelp DAO exploit as the largest DeFi exploit of 2026 by estimated dollar value.
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Context
What is rsETH?
rsETH is a token issued by Kelp DAO that represents restaked Ether within its liquid restaking system Bloomberg Business,CoinDesk.
What part of Kelp DAO was exploited?
Reports say the attacker targeted Kelp DAO's rsETH cross-chain bridge, also described as an adapter bridge contract, which used LayerZero infrastructure to move or message assets across chains Cointelegraph,CoinDesk,Block.
Why did the hack affect other protocols?
Because rsETH is used across DeFi, the breach created spillover risk for platforms with exposure to the token; reports specifically say Aave froze affected rsETH markets as part of its response mint,Crypto Briefing,Crypto Briefing.
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Wire services (1)
Independent coverage (28)
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u.todayMassive $290 Million Hack Hits Ethereum and Arbitrum - U.Tod...
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BlockonomiKelp DAO rsETH Bridge Hack Drains $292M as DeFi Losses Top $...
TokenPostKelpDAO and Aave Hit by $292M rsETH Exploit, AAVE Drops 10% ...
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CryptopolitanTornado cash-funded wallet steals 116,500 rsETH from KelpDAO...
COINTURK NEWSKelp DAO suffers $292M rsETH exploit, Aave freezes markets
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The BlockKelp DAO's rsETH bridge apparently exploited for roughly $29...
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