Kelp DAO Suffers $292M Exploit in LayerZero Bridge Hack
- DeFi
- Bridge
- Security
Kelp DAO got wrecked in the biggest crypto hack of 2026, losing $292 million in wrapped Ether (wETH) stranded across 20 chains due to a LayerZero bridge vulnerability. The attacker drained 116,500 rsETH, about 18% of the token’s supply, forcing an emergency pause of core contracts. CT went nuts, calling it a textbook case of bridge fragility while memes of 'LayerZero security' flooded timelines. A second attempt to steal another $95 million was thwarted by quick blacklisting. This disaster cemented 2026 as a brutal year for DeFi, with April alone seeing $606 million in losses.
Incident Details
- Type
- BRIDGE HACK
- Funds Lost
- $292M
- Status
- Ongoing
Kelp DAO paused core contracts and blacklisted attacker addresses, preventing a second drain attempt of $95 million. The incident highlighted persistent risks in cross-chain bridges.