Kelp DAO Exploit explained | TradeSphere
Decrypt: Kelp DAO Exploit Sparks Aave Liquidity Crunch, $6.2 Billion Withdrawal Panic Cryptopolitan on MSN: ZRO endures 18% drop in fallout of $300M Kelp DAO exploit LayerZero links $292M KelpDAO exploit to N. Korea's Lazarus Group; $2B in crypto thefts highlight new DeFi infrastructure breach. Kelp DAO lost $292M in a bridge exploit targeting its LayerZero integration, forcing Aave, SparkLend, and others to freeze rsETH markets in 2026's largest hack.
Understanding the Context
Aave's price dropped 12% after Kelp DAO's $280M DeFi exploit. Ethereum reaching $10,000 by is at 4% YES. FinanceFeeds: Kelp DAO Exploit Drains $292M in rsETH as Cross-Chain Bridge Targeted Kelp DAO bridge hack results in $292M loss from rsETH reserves, marking 2026's largest DeFi exploit and impacting cross-chain protocols. CoinDesk: A $300 million borrowing spike on Aave signals liquidity crunch after KelpDAO exploit A $300 million borrowing spike on Aave signals liquidity crunch after KelpDAO exploit The $292 million Kelp exploit: how it happened, and what it means for DeFi 2026 is shaping up to be DeFi's "worst year in terms of hacks," Ledger's CTO said, as the Kelp exploit shows how a single ...
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Key Insights
The $292 million Kelp crypto exploit: how it happened, and what it ... Cointelegraph on MSN: LayerZero says Kelp setup caused exploit, as Aave loss questions mount Interoperability protocol LayerZero claims that an inadequate setup tied to Kelp’s decentralized verifier network (DVN) enabled malicious actors to steal $290 million from Kelp DAO, adding that ... After attackers drained $291 million in crypto from Kelp DAO-linked infrastructure, DeFi users struggled on Aave to withdraw funds. Security experts on Saturday flagged nearly $300 million leaving Ethereum-based Kelp DAO on Saturday. Cryptopolitan reported that Kelp DAO said it had “identified suspicious cross-chain activity ...
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Crypto Briefing: LayerZero says North Korean Lazarus Group behind $292M Kelp DAO attack