KelpDAO Criticizes Layerzero After $300M Exploit, Moves to Chainlink CCIP
- Lazarus Group stole $300 million in rsETH on April 18 by breaching Layerzero’s core infrastructure.
- Over 47% of Layerzero OApps used the vulnerable “1-1 DVN” setup that was previously verified as secure.
- KelpDAO is migrating rsETH to Chainlink CCIP and the CCT standard for enhanced cross-chain security.
- Layerzero admitted attackers accessed RPC lists and compromised two independent nodes.
- Independent reviews found critical vulnerabilities in Layerzero’s default deployment settings.
The breach attributed to Lazarus Group led to a significant loss of DeFi assets, prompting KelpDAO to criticize Layerzero for systemic infrastructure failures and shift its operations to Chainlink’s more secure framework.
This incident underscores the importance of robust security measures in decentralized finance networks, with KelpDAO highlighting vulnerabilities in the widely used “1-1 DVN” setup as a major concern. (Source)
