On April 18, Kelp DAO, a liquid restaking protocol under KernelDAO, said an attacker used LayerZero‘s cross-chain messaging system to drain 116,500 rsETH from its bridge, worth about US$292 million and equal to roughly 18% of the token’s circulating supply.

Kelp paused its core contracts 46 minutes later, and two later attempts to withdraw another 40,000 rsETH each failed, while the drained bridge reserve had backed wrapped rsETH issued on more than 20 networks, including Base and Arbitrum.