KelpDAO Suffers Attack, Losing 116,500 rsETH Tokens, Hacker Swaps for 106,466 ETH

BlockBeats News, April 19th, according to on-chain analyst Wu Jinyu, KelpDAO was exploited in the early morning today, with 116,500 rsETH minted out of thin air, resulting in a loss of approximately $293 million.

Most of the rsETH was deposited into Aave as collateral to borrow ETH, while a small portion was directly sold for ETH. The hacker managed to obtain a total of 106,466 ETH through collateralization and selling (about $250 million).