Kelp DAO exploited | TradeSphere
Kelp DAO's rsETH token may have been exploited, risking over $100 million. Ethereum reaching $4,000 in April now at 85% NO. Hackers exploited a cross-chain bridge used by Kelp DAO and built using LayerZero on Saturday, draining 116,500 rsETH or about $292 million in the largest DeFi hack of 2026 to date.
Understanding the Context
Yahoo Finance: Kelp DAO Exploit Sparks Aave Liquidity Crunch, $6.2 Billion Withdrawal Panic After attackers drained $291 million in crypto from Kelp DAO-linked infrastructure, DeFi users struggled on Aave to withdraw funds. Analytics Insight: Kelp DAO Hack Drains $293 Million and Triggers DeFi Contagion Fears A cross-chain bridge exploit at Kelp DAO on April 18 drained about 116,500 rsETH, worth nearly $293 million, and triggered a rapid response across decentralized ... Crypto Briefing: Kelp DAO hit by $292M bridge hack draining rsETH reserves, Aave freezes affected markets Kelp DAO bridge hack results in $292M loss from rsETH reserves, marking 2026's largest DeFi exploit and impacting cross-chain protocols. Kelp DAO hit by $292M bridge hack draining rsETH reserves, Aave freezes affected markets 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.
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Key Insights
The Kelp DAO hack drained $292M, triggered $9B in Aave outflows, and wiped $13B from DeFi TVL. Here's what cross-chain contagion means for institutions. Yahoo Finance: Morning Minute: DeFi's Future in Question After $292M KelpDAO Exploit DeFi TVL fell by $13B after the KelpDAO exploit, and now the Vercel CEO is saying "highly sophisticated" actors used AI for its exploit. Decrypt: Kelp DAO Exploit Sparks Aave Liquidity Crunch, $6.2 Billion Withdrawal Panic 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 ... FinanceFeeds: Kelp DAO Exploit Drains $292M in rsETH as Cross-Chain Bridge Targeted An attacker drained 116,500 rsETH from Kelp DAO’s LayerZero-powered cross-chain bridge on Saturday, with the stolen funds valued at approximately $292 ...