"ZachXBT flagged a theft exceeding $280 million across Ethereum and Arbitrum DeFi protocols, linked to a minting flaw in KelpDAO's rsETH token."
"The exploit involved creating a large volume of rsETH without proper collateral, leading to significant borrowing against worthless positions on Aave V3."
"Community estimates of total losses from the exploit range from $100 million to roughly $293 million, impacting the AAVE token's market value."
On April 18, 2026, an attacker exploited a minting flaw in KelpDAO's rsETH liquid restaking token, draining over $280 million from Ethereum and Arbitrum. The exploit created bad debt on Aave V3, causing a significant drop in the AAVE token's value. The attacker funded their wallets through Tornado Cash before executing the theft. Analysts are monitoring six identified wallets for recovery clues, while community estimates of total losses vary between $100 million and $293 million, equivalent to approximately 116,500 ETH.
Read at news.bitcoin.com
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