Odaily Planet Daily report: Lido posted on X that on April 18, the Kelp cross-chain bridge was attacked, resulting in the theft of approximately 116,500 rsETH (about $292 million), after which the related assets were frozen on lending markets such as Aave.
Its vault product, EarnETH, has approximately a 9% exposure (around $21.6 million) through a leveraged position on rsETH/ETH on Aave, while rising borrowing utilization is imposing cost pressures on other strategies. The team is actively working to de-leverage and reduce overall risk.
Lido notes that the final impact of rsETH positions depends on subsequent actions by Kelp, LayerZero, and Aave, including loss allocation, asset recovery, and bad debt management.
In terms of risk mitigation, EarnETH can activate a $3 million "first-loss protection mechanism" (funded by the DAO treasury) to cover losses if necessary; the exact scale of usage remains under further evaluation. Currently, deposits and withdrawals have been suspended to ensure fairness and complete loss assessment; if progress is slow, redemption channels may be reopened based on the worst-case loss scenario.
The official emphasized that stETH and wstETH were unaffected, and the core staking protocol was not involved in this incident.