Ethereum Backers Commit 30,000 ETH to rsETH Recovery After Exploit
Cointelegraph
Consensys and Joe Lubin have joined DeFi United to pledge 30,000 ETH toward recovering funds following a $290 million Kelp DAO bridge exploit.Summary
Following a $290 million exploit of a Kelp DAO bridge that drained 116,500 rsETH, a coalition called DeFi United has formed to stabilize the ecosystem. Ethereum co-founder Joe Lubin and Consensys have pledged up to 30,000 ETH to support the recovery effort, which aims to provide immediate liquidity and address bad debt across protocols like Aave. The exploit, attributed to a configuration error in cross-chain messaging, has highlighted systemic vulnerabilities as part of a broader wave of DeFi hacks totaling over $600 million in April alone.
(Source：Cointelegraph)