Initial analysis by SlowMist’s Yu Xian indicates that in the Kelp theft incident, the attacker used LayerZero’s 1/1 DVN single-signature configuration instead of the officially recommended 2/2 setup. The attacker paid gas fees via Tornado Cash and successfully drained 116,500 rsETH on Ethereum, attempting but failing to steal an additional 40,000 rsETH. Currently, the 116,500 rsETH has been dispersed and laundered, imposing significant bad debt pressure on staking platforms, particularly Aave.
SlowMist analysis reveals Kelp hack, 116,500 rsETH stolen
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Summary
A recent crypto hack targeting Kelp resulted in the theft of 116,500 rsETH after an attacker exploited a 1/1 DVN single-signature configuration on LayerZero. The hacker used Tornado Cash to pay transaction fees and attempted to steal an additional 40,000 rsETH, which failed. The stolen funds have been dispersed, creating bad debt pressure on staking platforms such as Aave. The incident underscores vulnerabilities in cross-chain security and raises concerns about similar risks to exchange hacks.
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