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Kelp's $292 million loss is now the largest DeFi exploit of 2026, overtaking Drift by a few million doKelp, a product under the KernelDAO umbrella, acknowledged the incident in its first public X post at 20:10 UTC, nearly three hours after the drain. The protocol said it was investigating with LayerZero, Unichain, its auditors and outside security specialists. It has not disclosed how the exploit bypassed the bridge's validation logic.
Whether rsETH holds peg through the weekend depends on how much of the cross-chain float tries to redeem into ETH on Ethereum and whether Kelp can recover any portion of the stolen funds before the Tornado Cash trail goes cold.
The hack lands in an unusually hostile stretch for DeFi. Solana-based perpetuals protocol Drift was drained of about $285 million on April 1 in an attack later linked to North Korea-affiliated actors, and at least a dozen smaller protocols have been exploited in the weeks since, including CoW Swap, Zerion, Rhea Finance and Silo Finance.
Kelp's $292 million loss is now the largest DeFi exploit of 2026, overtaking Drift by a few million doKelp, a product under the KernelDAO umbrella, acknowledged the incident in its first public X post at 20:10 UTC, nearly three hours after the drain. The protocol said it was investigating with LayerZero, Unichain, its auditors and outside security specialists. It has not disclosed how the exploit bypassed the bridge's validation logic.
Whether rsETH holds peg through the weekend depends on how much of the cross-chain float tries to redeem into ETH on Ethereum and whether Kelp can recover any portion of the stolen funds before the Tornado Cash trail goes cold.
#KelpDAOFacesAttack
The hack lands in an unusually hostile stretch for DeFi. Solana-based perpetuals protocol Drift was drained of about $285 million on April 1 in an attack later linked to North Korea-affiliated actors, and at least a dozen smaller protocols have been exploited in the weeks since, including CoW Swap, Zerion, Rhea Finance and Silo Finance.
Kelp's $292 million loss is now the largest DeFi exploit of 2026, overtaking Drift by a few million doKelp, a product under the KernelDAO umbrella, acknowledged the incident in its first public X post at 20:10 UTC, nearly three hours after the drain. The protocol said it was investigating with LayerZero, Unichain, its auditors and outside security specialists. It has not disclosed how the exploit bypassed the bridge's validation logic.
Whether rsETH holds peg through the weekend depends on how much of the cross-chain float tries to redeem into ETH on Ethereum and whether Kelp can recover any portion of the stolen funds before the Tornado Cash trail goes cold.
The hack lands in an unusually hostile stretch for DeFi. Solana-based perpetuals protocol Drift was drained of about $285 million on April 1 in an attack later linked to North Korea-affiliated actors, and at least a dozen smaller protocols have been exploited in the weeks since, including CoW Swap, Zerion, Rhea Finance and Silo Finance.
Kelp's $292 million loss is now the largest DeFi exploit of 2026, overtaking Drift by a few million doKelp, a product under the KernelDAO umbrella, acknowledged the incident in its first public X post at 20:10 UTC, nearly three hours after the drain. The protocol said it was investigating with LayerZero, Unichain, its auditors and outside security specialists. It has not disclosed how the exploit bypassed the bridge's validation logic.
Whether rsETH holds peg through the weekend depends on how much of the cross-chain float tries to redeem into ETH on Ethereum and whether Kelp can recover any portion of the stolen funds before the Tornado Cash trail goes cold.
The hack lands in an unusually hostile stretch for DeFi. Solana-based perpetuals protocol Drift was drained of about $285 million on April 1 in an attack later linked to North Korea-affiliated actors, and at least a dozen smaller protocols have been exploited in the weeks since, including CoW Swap, Zerion, Rhea Finance and Silo Finance.
Kelp's $292 million loss is now the largest DeFi exploit of 2026, overtaking Drift by a few million dollars
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