KelpDAO sues LayerZero and CEO over $292M rsETH bridge exploit
Summary
KelpDAO sued LayerZero and co-founder Bryan Pellegrino in British Columbia, alleging LayerZero’s security failures and nondisclosure of risks enabled an April 22 exploit that drained 116,500 rsETH, worth about $292 million. The attack, attributed to a North Korean group, triggered wider DeFi turmoil, including withdrawal pressure that led Aave to borrow $300 million and a reported $20 billion drop in total value locked. Pellegrino called the claim meritless and said he would defend himself in court. KelpDAO says it has moved rsETH to a more secure bridge standard and is seeking accountability for the damage.
