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Ether withdrawals are expected to resume within 24 hours for KelpDAO users after a coordinated burn of the attacker’s rsETH tokens on Arbitrum successfully neutralized the exploit’s impact. MORE THAN AN EXPLOIT The rsETH bridge lockbox on Arbitrum is being refilled, and ether withdrawals for users affected by the KelpDAO exploit are expected to start […]
Read full articleThe exploit highlights the persistent vulnerability of DeFi systems, risking investor confidence and potentially stalling sector growth. The post DeFi protocol Transit Finance reportedly hit by $1.8 million exploit appeared first on Crypto Briefing.
Latest exploit marks another setback for decentralized finance infrastructure, notably cross-chain systems that have remained a prime target for hackers. Transit Finance, a decentralized cross-chain aggregation protocol, suffered an exploit that drained roughly $1.88 million from the platform on May…
The post Aave Liquidity Rebounds To Healthy Levels After $10 Billion Outflow appeared on BitcoinEthereumNews.com. Aave Liquidity Rebounds To Healthy Levels After $10 Billion Outflow Skip to content Home Crypto News Aave Liquidity Rebounds to Healthy Levels After $10 Billion Outflow Source: https://bitcoinworld.co.in/aave-liquidity-recovery-rseth-hack/
The post Ether Withdrawals to Resume Following KelpDAO and Aave’s Coordinated Token Burn appeared on BitcoinEthereumNews.com. Key Takeaways The rsETH attacker’s Arbitrum tokens were burned today, following liquidation of 8 Aave V3 positions on May 6. Aave co-founder Stani Kulechov confirmed ETH withdrawals will normalize within 24 hours of the Arbitrum burn step. Recovery is partially complicated by a U.S. court’s prior freeze on $71M in ETH, claimed to be linked to North Korea’s Lazarus Group. MORE THAN AN EXPLOIT The rsETH bridge lockbox on Arbitrum is being refilled, and ether withdrawals for users affected by the KelpDAO exploit are expected to start within 24 hours, marking the final phase of one of decentralized finance ( DeFi)’s most complex coordinated recoveries. Aave co-founder Stani Kulechov confirmed the development directly, noting the past several weeks, including weekends, had been “incredibly intense.” Image source: X The attack began on April 18, when an unknown attack
The post How Compound Governance Triggered a $30M Recovery From the KelpDAO Exploit appeared on BitcoinEthereumNews.com. TLDR: Compound governance approved an oracle tweak that enabled liquidation of stolen rsETH collateral. The attacker used 116,500 rsETH as collateral to borrow ETH and wstETH across Compound v3. DeFi United seized nearly $30M after temporary oracle bounds forced undercollateralization. The recovered rsETH was redeemed into ETH to help restore KelpDAO’s damaged bridge reserves. DeFi governance proved capable of acting as an emergency recovery mechanism after the April 2026 KelpDAO exploit. Roughly 116,500 rsETH worth $292 million were stolen and deployed as collateral on Compound v3. Standard liquidation rules offered no path to recovery, since the stolen rsETH still priced normally. A governance-approved oracle adjustment changed that, eventually enabling DeFi United to seize roughly $30 million. The recovery marked one of the most coordinated on-chain interventions
Jane Street has reduced several major Bitcoin-linked holdings during the first quarter of 2026 while adding to its exposure across Ether ETFs and selected crypto equities. According to a 13F filing released Tuesday, the Wall Street trading firm sharply lowered…
The event highlights the critical role of social consensus in blockchain governance, emphasizing the balance between decentralization and control. The post Arbitrum Security Council member says blockchains run on social consensus, not just code appeared first on Crypto Briefing.
The post Major Recovery Action Restores Security to Ethereum’s rsETH Tokens appeared on BitcoinEthereumNews.com. In a significant recovery effort, Ethereum-based Kelp DAO and Aave have successfully restored the security status of rsETH tokens after a recent cyber intrusion. Following this effort, the rsETH tokens, valued at $1.5 billion, remain well-collateralized across various networks. Continue Reading:Major Recovery Action Restores Security to Ethereum’s rsETH Tokens Source: https://en.bitcoinhaber.net/major-recovery-action-restores-security-to-ethereums-rseth-tokens
