Kelp DAO’s LayerZero-based rsETH bridge has been hit by what appears to be a major exploit, with early estimates pointing to losses of roughly 116,500 rsETH—about $292 million—an incident that quickly rippled through DeFi lending markets and sparked fresh concerns about cross-chain security. Kelp DAO said it identified suspicious cross-chain activity tied to rsETH and moved to halt rsETH contracts across mainnet and multiple layer-2 networks.
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