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According to Kelp DAO's announcement on Tuesday, the protocol blamed LayerZero for approving a risk configuration that allowed a $292 million exploit to occur on April 18. Kelp stated that LayerZero personnel approved the setup of a 1-of-1 verification system—relying on a single entity to authenticate cross-chain transactions—without warning about security risks. The protocol is redesigning its cross-chain system and will move rsETH to Chainlink's cross-chain interaction protocol, which requires multiple independent validators.
Approximately $71 million in crypto assets related to the exploit have been frozen on Arbitrum, leading to legal disputes in U.S. federal court. LayerZero countered Kelp's claims in April, arguing that the exploit resulted from Kelp using a single validator setup, contrary to the multi-validator model recommended by the company.