KelpDAO Sues LayerZero Over $292 Million rsETH Bridge Exploit

KelpDAO filed a civil lawsuit in British Columbia against LayerZero and co-founder Bryan Pellegrino following an April cyberattack resulting in the loss of 116,500 rsETH tokens.

The stolen digital assets were valued at approximately $292 million, or roughly Rs 2,797 crore, at the time of the exploit.

KelpDAO alleged that LayerZero failed to properly disclose critical security and verification risks associated with its cross-chain bridge setup, while Pellegrino dismissed the claims as meritless.