🔥 @KelpDAO filed a lawsuit against @LayerZero_Core over $292M rsETH exploit
#KelpDAO sued #LayerZero and co-founder Bryan Pellegrino in the Supreme Court of British Columbia over an April 18 exploit that affected 116,500 rsETH, valued at roughly $292M. Evercrest alleges LayerZero failed to disclose security risks or recommend multi-DVN setups, while also accusing the company of negligent misrepresentation and defamation. It is seeking damages after more than $650M in user withdrawals since the exploit. The case could face increased scrutiny under MiCA and CFT compliance rules.
- by PhoenixGroup
$ZRO
#KelpDAO sued #LayerZero and co-founder Bryan Pellegrino in the Supreme Court of British Columbia over an April 18 exploit that affected 116,500 rsETH, valued at roughly $292M. Evercrest alleges LayerZero failed to disclose security risks or recommend multi-DVN setups, while also accusing the company of negligent misrepresentation and defamation. It is seeking damages after more than $650M in user withdrawals since the exploit. The case could face increased scrutiny under MiCA and CFT compliance rules.
- by PhoenixGroup
$ZRO
