KelpDAO Sues LayerZero Over $292M rsETH Bridge Exploit

Evercrest Technologies, behind KelpDAO, filed a civil claim in British Columbia against LayerZero Labs and co-founder Bryan Pellegrino over the April bridge exploit that drained 116,500 rsETH, worth about $292 million. The suit alleges negligence, negligent misrepresentation, and defamation, claiming LayerZero endorsed the faulty 1-of-1 security configuration. Claims remain unproven in court.