#kelpdao — Public Fediverse posts

#KelpDAO suffers $290 million heist tied to #Lazarus hackers

https://www.bleepingcomputer.com/news/security/kelpdao-suffers-290-million-heist-tied-to-lazarus-hackers/

#Kelp #crypto #cybersecurity #NorthKorea

2/ so far the #KelpDAO / #Layer0 hack (tentatively attributed to #NorthKorea) has led to a quarter of all money being drained from #Aave and massive withdrawals across the entire #defi ecosystem.

https://protos.com/defi-sector-in-14b-meltdown-as-290m-rseth-hack-fallout-burns-aave/

#crypto #cryptocurrency #DPRK #LazarusGroup #TraderTraitor #infosec #cybersecurity

another day, another $300 million #crypto hack (probably directly into #NorthKorea's nuclear weapons coffers). this time it's something called #KelpDAO.

There's a few interesting parts here:

1. KelpDAO operates through #Aave, the biggest / most important lender in "decentralized finance" (#defi) and the way the hack was pulled off managed to stick Aave with almost $300 million in bad debt (in the form of a bunch of fake #rsETH tokens, a "liquid staking token" for #ETH that i'm only going to explain if someone actually is interested and asks in the comments)

2. as a result there's a stampede to get money out of Aave. not quite a full run on the bank bc that's not really possible w/the way Aave works, but directionally similar

3. the founder of Aave mocked #DriftProtocol for being hacked for a similar amount two weeks ago as "not defi". this complicates the solution here, which is for Aave to step in and rewrite the decentralized protocol to socialize the losses onto users.

- explainer: https://x.com/ImperiumPaper/status/2045883103105737006
- bloomberg: https://www.bloomberg.com/news/articles/2026-04-19/crypto-hack-worth-290-million-triggers-defi-contagion-shock

#threatintel #cybersecurity #DPRK #LazarusGroup #ethereum #StaniKlechov #DAO #infosec