Kelp DAO to migrate rsETH to Chainlink CCIP as blame game continues
Bryan Pellegrino, co-founder and CEO of LayerZero, disputes Kelp DAO’s accusations and said a postmortem by external security firms will be published soon.
DeFi protocol Kelp DAO said it will be migrating its restaking token, rsETH, to the Chainlink oracle platform after the $292 million exploit in April, as it continued to blame the attack on LayerZero’s cross-chain infrastructure.
Hackers stole 116,500 Kelp DAO restaked ETH tokens on April 18 from Kelp DAO’s LayerZero-powered bridge, then used them as collateral on Aave v3 to borrow wrapped Ether.
“After the recent LayerZero exploit, we are taking steps to ensure rsETH is fully secure, which is why we are migrating to Chainlink CCIP,” Kelp DAO said in an X post on Tuesday.