2026's biggest crypto exploit: $292 million gets drained from Kelp DAO with wrapped ether stranded across 20 chains

2026's biggest crypto exploit: $292 million gets drained from Kelp DAO with wrapped ether stranded across 20 chains

Search/NewsVideoPricesResearchConsensus 2026Data & IndicesSponsoredSearch/enTechShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmail2026's biggest crypto exploit: $292 million gets drained from Kelp DAO with wrapped ether stranded across 20 chainsAn attacker drained 116,500 rsETH, roughly 18% of circulating supply, from Kelp's LayerZero-powered bridge on Saturday, triggering emergency freezes across Aave, SparkLend, Fluid and Upshift.By Shaurya MalwaUpdated Apr 18, 2026, 9:08 p.m. Published Apr 18, 2026, 8:53 p.m. Make preferred on What to know: An attacker exploited Kelp DAO's LayerZero-powered bridge to drain 116,500 rsETH—about $292 million and roughly 18 percent of the token's circulating supply—triggering an emergency pause of core contracts.Because the bridge held reserves backing rsETH on more than 20 networks, the loss has raised doubts about the backing of rsET

Source: https://www.coindesk.com/tech/2026/04/19/2026-s-biggest-crypto-exploit-kelp-dao-hit-for-usd292-million-with-wrapped-ether-stranded-across-20-chains