Kelp DAO Announces $292 Million Hack

Today, around 0:35 AM Vietnam time, KelpDAO's #rsETH contract bridge was hacked, resulting in a loss of 116,500 ETH, approximately $292 million.

The hackers forged cross-chain messages on the L0 bridge, created rsETH from nothing, and used the rsETH to borrow 116,500 ETH from aave v3, compound, etc.

📌Impact:

Aave V3: $196 million loss
Compound V3: $39.4 million loss
Euler: $840,000 loss

Currently, Aave is freezing rsETH on V3 & V4, asserting that its contracts were not hacked and pledging to find a way to compensate.

A downtrend at this time, a nearly $300 million hack is serious; Aave is facing a major setback...

(Copy from HC Gem alert)

#KelpDAOFacesAttack #KelpDAO