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Attacker exploits Kelp DAO bridge for $292 million, Jacquelyn Melinek reports

Attacker exploits Kelp DAO bridge for $292 million, Jacquelyn Melinek reports
Kelp DAO bridge exploit hits $292 million

An attacker has exploited Kelp DAO’s LayerZero bridge, draining about $292 million, according to details shared by Jacquelyn Melinek. This breach now stands as the largest exploit of 2026, overtaking the previous record set by Drift Protocol’s $285 million hack in April by several million dollars.

Melinek noted that approximately 116,500 rsETH was taken, representing roughly 18% of its supply. Further updates are expected as more information becomes available about the incident.

Melinek has previously reported that Figure processes about $1 billion in tokenized mortgages each month as the company expands its onchain equity network here. She has also discussed how stablecoin growth depends on distribution strategies, referencing insights from Modern Treasury and ongoing payment developments on Solana here. These earlier reports contribute to a record of ongoing innovation and risk in blockchain infrastructure.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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