Ethereum
KelpDAO Files Lawsuit Against LayerZero and CEO Over $292 Million Bridge Exploit
KelpDAO has initiated legal action against LayerZero and Bryan Pellegrino following the theft of 116,500 rsETH from its cross-chain bridge earlier this year.
KelpDAO has filed a lawsuit against cross-chain protocol LayerZero and its co-founder and chief executive, Bryan Pellegrino, in connection with an exploit that drained approximately $292 million from its rsETH bridge. The incident occurred on April 18, when attackers stole 116,500 rsETH.
In its legal filing, KelpDAO claimed that LayerZero failed to disclose infrastructure risks, prevented security failures, and had previously reviewed and approved the bridge configuration in writing. Kelp stated that the lawsuit aims to hold the protocol and Pellegrino accountable for harm caused to the platform and the decentralized finance sector.
Pellegrino dismissed the claims as meritless and stated that he plans to defend the case in Vancouver. The filing escalates an ongoing dispute between both entities concerning responsibility for the security breach.
According to LayerZero's post-incident report, attackers compromised its internal nodes and generated an unauthorized verification for a forged message. LayerZero argued that the vulnerability stemmed from KelpDAO relying on a single decentralized verifier network rather than multiple independent verification paths, an arrangement LayerZero said it had advised against.
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