On Saturday, April 18, 2026, a significant exploit targeted Kelp DAO’s LayerZero‑powered bridge, draining 116,500 rsETH—approximately 18 % of its circulating supply—into an attacker‑controlled address. The loss, valued at roughly $292 million, marked the largest crypto‑related theft reported in 2026.
Impact on DeFi Platforms
The breach triggered emergency freezes across several prominent DeFi protocols, including:
- Aave
- SparkLend
- Fluid
- Upshift
These actions were taken to prevent further exploitation of the compromised bridge and to safeguard user funds.
Technical Details
- Asset: rsETH (wrapped Ether)
- Affected Chains: 20 distinct blockchains
- Bridge Technology: LayerZero
The stolen rsETH remains stranded across the 20 chains, complicating recovery efforts and highlighting the risks of cross‑chain liquidity protocols.
For a detailed report, see the original coverage on Coindesk: 2026's biggest crypto exploit: Kelp DAO hit for $292 million with wrapped ether stranded across 20 chains.
Source: 2026's biggest crypto exploit: Kelp DAO hit for $292 million with wrapped ether stranded across 20 chains
Domain: coindesk.com
Comments load interactively on the live page.