Kelp rsETH announced that withdrawals have been restored, and Eigen’s claims are now open simultaneously

Kelp DAO announced on X on May 15, 2025 that, as part of the coordinated restart plan, the rsETH withdrawal functionality is now live, and the bridging and claiming functions have been launched as well. The exchange rate will be updated at 22:30 (Beijing time) on May 15, and Eigen claiming will be opened simultaneously, reflecting the staking rewards accumulated by rsETH holders during the suspension period.

Restoration Plan Confirmation Timeline

Based on the steps confirmed in Kelp DAO’s official X post:

Already live: rsETH withdrawal, bridging, claiming

22:30 (Beijing time) on May 15 (16:30 CET): exchange rate update; Eigen claiming opened simultaneously (reflecting staking rewards accumulated during the pause)

After a brief stable window: the deposit function will be reopened (the official has not yet announced the specific date)

Within the next two weeks: the remaining batches of rsETH will be sent by Aave and Kelp in sequence, fully replenishing the lockbox contract

Attacker Token Destruction and Replenishment Mechanism

The attacker’s 17,132 rsETH have been fully burned on Arbitrum. After the burn is completed, the 17,132 rsETH will be gradually replenished via Aave Recovery Guardian and Kelp Recovery Safe, with the first batch of rsETH exchanged through the LayerZero OFT adapter. Other operations, including deposits, redemptions, transitional financing, and claiming, were restored in the same period.

Confirmed Security Hardening Measures

According to official announcements from Kelp and Aave, the confirmed security upgrades taken after the attack are:

Verification requirements: verification now requires 4 independent validators (upgraded)

Block confirmations: increased from 42 to 64

L2 connection changes: all L2-to-L2 bridge connection routes have been deprecated

Security audit: BailSec has completed an audit of the above security measures

Cross-chain migration: Kelp is migrating from LayerZero to CCIP (Chainlink cross-chain interoperability protocol)

Aave founder and CEO Stani Kulechov said the team has started building “a higher level of security resilience.”

Market Data: Aave TVL still at 62% of pre-attack levels

According to Aavescan data, as of the time of reporting:

Aave total deposits: about $9B (pre-attack was $27.78B, still a significant gap)

Aave stablecoin supply: rebounded from the low point to about $8.7 billion (an increase of about $1.4 billion from the low point)

FAQ

When will deposits be reopened after the rsETH withdrawal function is restored?

According to Kelp’s official announcement, deposits will be reopened “after a brief stable window.” No specific date has been announced by the official yet. The only confirmed time point is the exchange rate update and Eigen claiming opening at 22:30 (Beijing time) on May 15.

When can the remaining rsETH batches be fully replenished?

According to Kelp’s official announcement, the remaining rsETH batches will be sent by Aave and Kelp in sequence within the next two weeks to fully replenish the lockbox contract. The official has not provided more detailed batch timing.

After this security upgrade, what specific changes were made to Kelp’s bridging security measures?

The confirmed changes include: verification requirements upgraded from the original standard to requiring 4 independent validators; block confirmations increased from 42 to 64; all L2-to-L2 bridge connection routes have been deprecated; BailSec completed the audit; and Kelp is migrating from LayerZero to Chainlink’s CCIP as a more secure bridging infrastructure.