DeFi Crisis: Kelp DAO $293M Exploit & Recovery
Summary
The Upside reports a DeFi+L1L2 update covering a Kelp DAO exploit that drained $293M after ~45% of LayerZero-related OApps used a single-verifier config. It also details Drift Protocol securing $148M from Tether and partners for recovery. This highlights systemic LayerZero risk and major recovery funding.
DeFi+L1L2 Update:
๐จ Kelp DAO suffered an exploit resulting in a $293M loss
๐ ~45% of LayerZero-related OApps set a single-verifier config which led to Kelpโs exploit
๐ฒ Drift Protocol secured $148M from Tether and partners for its recovery plan
Full details ๐
https://crypto.com/market-updates/defi-l1l2-weekly-2026-04-22?utm_source=x&utm_medium=x&utm_campaign=rni_defi-l1l2
