"Following a breach by suspected North Korea-backed hackers, KelpDAO's liquid restaked token, rsETH, depegged from ether, dropping from $2,404 to $1,723. This incident underscores the critical need for enhanced bridge security as part of collateral risk management."
"The trading volumes for rsETH have gradually declined from over $10 million to five-figure levels after the breach, indicating a significant loss of market confidence and the challenges faced in regaining parity with ether."
On April 23, KelpDAO's liquid restaked token, rsETH, depegged from ether following a breach by suspected North Korea-backed hackers. The token's value dropped from $2,404 to $1,723, while ether remained at $2,270. Trading volumes for rsETH decreased significantly after the breach. Aave froze $71 million in stolen funds to mitigate contagion risks. KelpDAO is focusing on user safety and protocol strengthening, with plans for the FAssets v1.3 upgrade to enhance security through multiple verifier networks and mint caps.
Read at news.bitcoin.com
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