According to ME News, on June 20 (UTC+8), Kelp announced the official discontinuation of its cross-chain bridge service for rsETH across 20 networks. However, it emphasized that users' asset backing remains secure. Users who have not completed cross-chain transfers by the deadline can reclaim their assets through a recovery process: they must burn rsETH on the source chain and pay a fixed fee of 100 USDC on Ethereum mainnet, then submit records of both transactions via email to the official team. The project will settle claims quarterly and reissue rsETH back to Ethereum mainnet. Movement ecosystem users will follow a separate processing procedure, but the same asset security mechanisms apply. Kelp stated that this recovery window will remain open until June 15, 2027, and reminded users to submit requests exclusively through this email address to avoid risks. (Source: ODAILY)
Kelp Ends rsETH Cross-Chain Bridge, Offers One-Year Recovery Window
KuCoinFlashShare
Summary
On June 20 (UTC+8), Kelp announced the termination of its rsETH cross-chain bridge services across 20 networks. Users have a one-year window to recover their assets by burning rsETH on the source chain, paying a 100 USDC fee on the Ethereum mainnet, and submitting documentation via email. Settlements occur quarterly, with rsETH returned to the Ethereum mainnet. Movement users follow a separate process but with equivalent security. The recovery period ends on June 15, 2027. This update delivers significant on-chain news and signals a shift in Ethereum ecosystem developments.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.