Signal

Kelp DAO hacked for nearly $300 million, triggering widespread DeFi disruptions

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redditrsstelegram

crypto_assetsdefiexchangeson_chain_datahacks_that_impact_crypto

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Evidence trail (top sources)

top sources (4 domains)

4 top sources shown

Aave records $6 billion TVL drop as Kelp hack exposes structural risk at DeFi lender

CoinDeskGlobal · coindesk.com · 2026-04-19 14:58 UTC

Kelp attack spreads risk across DeFi, $293M lost

Crypto.News · crypto.news · 2026-04-19 09:17 UTC

Cointelegraph - Kelp restaking platform exploited, $293M drained in attack

cointelegraph.com · cointelegraph.com · 2026-04-18 22:06 UTC

DL News - Hackers target DeFi protocol Kelp DAO in massive $300m exploit

dlnews.com · dlnews.com · 2026-04-18 20:55 UTC

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Overview

On April 18, 2026, Kelp DAO's rsETH Adapter was exploited via a misconfigured LayerZero bridge, allowing an attacker to mint 116,500 unbacked rsETH tokens worth approximately $293 million.

Entities

AaveSparkLendFluidUpshiftKelp DAOrsETHLayerZeroStani Kulechov

Score total

2.32

Momentum 24h

Posts

Origins

Source types

Duplicate ratio

13%

Why now

The exploit occurred recently on April 18, 2026, causing immediate market disruptions.
DeFi protocols are actively responding by freezing affected assets and assessing exposure.
Market participants are evaluating the broader implications for cross-chain risk and DeFi security.

Why it matters

Highlights critical vulnerabilities in DeFi cross-chain bridge designs and risk management.
Demonstrates how a single exploit can cascade across multiple DeFi protocols causing systemic liquidity shocks.
Signals the need for improved security practices and monitoring in cross-chain and restaking platforms.

LLM analysis

Topic mix: lowPromo risk: lowSource quality: medium

Recurring claims

Kelp DAO lost approximately $293 million due to an exploit of its rsETH Adapter.
The attacker minted 116,500 unbacked rsETH tokens by exploiting a LayerZero bridge misconfiguration.
Aave froze rsETH markets on its lending protocols and suffered a $6 billion TVL drop following the exploit.

How sources frame it

Defi Community: neutral

This major DeFi exploit underscores the fragility of cross-chain bridges and the systemic risks posed by single points of failure in decentralized finance.

All evidence