Wild weekend in DeFi ! @KelpDAO got hit by a massive ~$292M exploit on April 18 via their LayerZero bridge — attacker minted ~116.5k unbacked rsETH and dumped it as collateral on @aave to borrow nearly $200M WETH. Aave froze rsETH markets instantly, TVL dropped billions, and now we're staring at two bad debt scenarios per @LlamaRisk : spread the ~15% haircut everywhere or hit L2s harder (up to $230M). Grateful for the transparency and those ecosystem commitments rolling in. $181M treasury helps too. This is a brutal stress test — hoping they land on something fair without punishing innocent depositors.
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