Trending Now - Kelp DAO Hit by $292M Exploit in Cross-chain Attack

WHO:

Bitcoinist - Kelp DAO is the organization affected by the exploit.

Cointelegraph - Blockchain security firm Cyvers reported on the incident.

WHAT:

Bitcoinist - Kelp DAO suffered a cross-chain exploit that drained approximately 116,500 rsETH, valued at nearly $292 million.

Techmeme - An attacker drained approximately $292 million worth of rsETH from Kelp DAO's LayerZero-powered cross-chain bridge.

Cointelegraph - The attack resulted in $293 million being drained and caused a "cross-protocol contagion" affecting at least nine crypto protocols.

WHERE:

Techmeme - The exploit occurred on Kelp DAO's LayerZero-powered cross-chain bridge.

WHEN:

Techmeme - The attack occurred on Saturday, April 16th, 2026.

WHY:

Bitcoinist - The incident raises concerns about the security of the Kelp DAO protocol, especially following a previous disruption related to a smart contract bug.

HOW:

Techmeme - The attacker targeted Kelp DAO's LayerZero-powered cross-chain bridge to execute the exploit.

(UPDATED April 19, 2026 15:07 UTC)

Kelp DAO has been hit by a significant cross-chain exploit, with approximately 116,500 rsETH, valued at nearly $292 million, drained from its LayerZero-powered bridge on Thursday. Blockchain security firm Cyvers reported that this incident not only resulted in the loss of funds but also triggered a "cross-protocol contagion" impacting at least nine other crypto protocols. This attack raises serious concerns about the security of the Kelp DAO protocol, especially following a previous disruption related to a smart contract bug.