Kelp DAO published a detailed rebuttal to LayerZero's explanation of the April 18 rsETH bridge exploit that caused a $300 million loss. The decentralized organization confirmed it will migrate rsETH tokens from LayerZero's OFT standard to Chainlink's Cross-Chain Token standard. Kelp DAO accused LayerZero of blaming users instead of accepting responsibility for the hack.
Rebuttal to LayerZero's Account
Kelp DAO directly challenged LayerZero's version of the April 18 incident. The organization argued that LayerZero's analysis incorrectly placed fault on users for the bridge exploit. Their detailed technical response disputed key points in LayerZero's public explanation of how the $300 million loss occurred.
Migration to Chainlink Standard
The DAO confirmed rsETH will move off LayerZero's OFT protocol to Chainlink's Cross-Chain Token standard. This transition aims to prevent future vulnerabilities while keeping the token operational across chains. The shift is now in motion as the primary solution for securing rsETH going forward.
Blame Deflection Allegations
Kelp DAO stated LayerZero's account deflects responsibility by attributing the hack to user actions. Their rebuttal emphasized that the bridge design itself created the conditions for the exploit. The organization noted LayerZero's explanation ignored critical flaws in the protocol's structure.
rsETH Migration Timeline
No specific dates were provided for the cross-chain transition, but the migration process has started. Users will need to swap their current rsETH tokens once the new Chainlink-based system goes live. The DAO hasn't announced whether the migration will involve automatic conversions or require user action.
