Kelp's rsETH was exploited earlier today, around 3 pm EST. Initial reports indicate $300 million has been impacted in an active attack. Sentora Vaults and client strategies have no exposure to rsETH. The borrow rate for WETH on Aave has become elevated, and LST/LRT looping strategies are now negative carry. We continue to monitor the situation closely and are in active communication with clients and partner protocols as the situation develops. While LST/LRT carry trades are currently in negative carry, we dont see liquidations as a risk in the short term. On stablecoins, the exploit prompted many LPs to withdraw stablecoins across a number of protocols. This has spiked supply yields across our vaults. As we have no exposure to rsETH, we expect rates to fall in the coming hours.
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