Earlier today we identified suspicious cross-chain activity involving rsETH. We have paused rsETH contracts across mainnet and several L2s while we investigate.
We will keep you…
The Aave situation is bad and getting worse. Multiple other pools are hitting 100% utilization, leaving lenders stuck and the protocol at risk of further bad debt.
Lending rates have increased to 10-15%, a notable increase but still not an appropriate reward for the perceived…
Kelp DAO issues rsETH, a liquid staking token that allows users to earn Ethereum staking and EigenLayer restaking rewards. It acts as a tradeable “receipt” for Kelp DAO depositors. The Kelp DAO bridge was built on top of infrastructure designed by LayerZero, a protocol that allows DeFi applications to send messages and transfer assets across blockchains.
Nonetheless, some onlookers were eager to find a path forward, including crypto entrepreneur and Tron founder Justin Sun. He attempted to negotiate, arguing that the attackers would ultimately struggle to spend the stolen funds.
