🚨 KelpDAO exploited for $294M


According to ZachXBT, KelpDAO suffered a massive exploit across Ethereum and Arbitrum.
What happened:
• Attacker drained 116,500 rsETH (~18% of supply)
• Exploit used a forged LayerZero cross-chain message
• Funds were deployed across Aave, Compound, and Euler Finance
• Borrowed $236M in WETH
Response:
• Aave, Spark, Fluid and others froze rsETH markets
• Aave confirmed protocol remains safe
• rsETH borrowing power set to zero
📉 Market impact:
• AAVE token dropped ~10%
Another reminder: cross-chain risk remains one of the biggest vulnerabilities in DeFi.
#Crypto #DeFi #Ethereum #Aave #Security #Hack #Web3
ETH-2.33%
ARB-3.28%
ZRO-18.72%
AAVE-18.19%
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