Evercrest Technologies, the developer behind KelpDAO, has sued LayerZero and its CEO Bryan Pellegrino over a $292 million exploit of the protocol’s rsETH bridge. According to the complaint, poisoned RPC data, a compromised developer device, and a LayerZero one-of-one verifier configuration allowed attackers to mint tokens without corresponding deposits. Evercrest says it identified the attack within an hour and blocked a second attempted mint of 40,000 rsETH. The company accuses LayerZero of reviewing and endorsing the bridge configuration before shifting blame for the incident onto KelpDAO. The alleged fallout includes more than $650 million in user withdrawals, lower assets under management, the closure of the sbUSD vault, and additional legal costs.
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