🚨 KelpDAO Exploit Shakes DeFi Market
A major security breach has hit , resulting in an estimated $290 million loss through its rsETH bridge.
The incident was caused by a critical vulnerability in its verification setup, where a single DVN configuration exposed the protocol to exploitation. Despite prior warnings from regarding diversification risks, the issue remained unresolved.
The attacker has already moved swiftly, leveraging stolen assets as collateral on to borrow nearly $195 million in liquidity.
This event highlights a key lesson for DeFi: Security design matters more than speed.
Protocols relying on centralized or single-point validation systems remain highly vulnerable in today’s evolving threat landscape.
📌 The focus now shifts to risk management, decentralized verification, and stronger infrastructure across the ecosystem.