Kelp DAO
Aave fights to unfreeze $71 million amid Kelp DAO hack court battle
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A federal case is unfolding over $71 million in frozen cryptocurrency following the Kelp DAO exploit, as Aave seeks to release the funds for DeFi recovery. Victims of decades-old North Korean terrorist acts have filed a restraining notice against Arbitrum DAO, claiming the 30,765 ETH as DPRK-linked property. The dispute pits recent hack victims against long-standing terrorism judgment holders.
Kelp DAO has accused LayerZero personnel of approving the 1-of-1 verifier setup blamed for a $292 million exploit on its rsETH bridge. The protocol plans to migrate from LayerZero's OFT standard to Chainlink's CCIP. The hack has been linked to North Korea's Lazarus Group.
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A $292 million exploit on Kelp DAO has shaken decentralized finance (DeFi) lending markets, prompting industry insiders to call for stronger security measures. Despite the setback, experts view it as a temporary hurdle rather than a barrier to institutional adoption. Wall Street firms continue advancing into onchain finance amid the fallout.