Search results for KelpDAO
Crypto
North Korea accounts for 76 percent of crypto hacking losses this year
North Korea-linked hacking groups accounted for 76 percent of cryptocurrency hacking losses reported through April this year, according to a TRM Labs report cited by BeInCrypto. Two attacks, targeting Drift Protocol and KelpDAO, drove most losses of about $577 million. Drift lost $285 million on April 1, while KelpDAO’s cross-chain bridge saw 116,500 rsETH stolen worth about $292 million. TRM Labs said attack frequency has not risen but methods have become more sophisticated.
Crypto
Bitcoin slips to $77,000 range after failing at $80,000 resistance
Bitcoin slid back below $78,000 after running into resistance near $80,000, with the price down about 2 percent over the past 24 hours. Markets see concentrated sell orders around $80,000 as capping gains, though one analyst called the move a temporary pullback within a broader uptrend. On-chain data showed stablecoin inflows to Binance and continued U.S.-listed spot bitcoin ETF inflows. DeFi security incidents and oil prices were cited as risks.
Crypto
Aave joins DeFi partners to address $292 million KelpDAO hack
Aave has begun a joint recovery effort with major cryptocurrency firms under the slogan “DeFi United” to stabilise the DeFi lending market after a $292 million hack. The initiative focuses on covering the collateral shortfall for hacked rsETH. The incident stemmed from a vulnerability in KelpDAO’s LayerZero integration, enabling the minting of unbacked rsETH and borrowing of about $190 million in assets. Aave’s total value locked fell by $10 billion after the attack.
