Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
WCTC S8
Rewards

LayerZero Issues Public Apology for Kelp DAO Exploit, Admits Single-Verifier Setup Was Mistake

GateNews
Security IncidentsProject ProgressEnforcement Actions
ZRO-5.02%
SOLV-4.22%
LINK-0.7%

According to LayerZero’s official blog post on Friday, the protocol issued a public apology for its handling of the April 18 exploit that drained $292 million in rsETH from Kelp DAO’s cross-chain bridge. LayerZero admitted it made a mistake by allowing its Decentralized Verifier Network to serve as the sole verifier for high-value transactions, reversing its earlier stance that blamed Kelp DAO’s configuration choices.

In response to the incident, LayerZero said it will no longer service 1/1 DVN configurations, with default settings migrated to require at least five verifiers where possible. The apology comes as Kelp DAO and Solv Protocol have migrated their cross-chain infrastructure to Chainlink’s CCIP, citing security concerns.

View Source
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Related News

05-10 11:33
LayerZero Issues Public Apology on May 8, Admits Fault in Single-Verifier Setup for Kelp DAO Exploit
05-10 10:22
Judge Clears $71M ETH Transfer From Arbitrum to Aave, But North Korea Creditors Retain Legal Claim
05-10 08:21
Tether's USDT0 Unveils 3/3 Verification Mechanism, Launches $6M Bug Bounty Program After Kelp Incident
05-09 23:27
LayerZero Issues Public Apology Friday, Admits Fault in 1/1 DVN Setup for $292M Kelp DAO Exploit
05-09 17:23
LayerZero Issues Public Apology for Kelp DAO Exploit, Admits Single-Verifier Setup Fault
In-Depth Analysis

LayerZero Admits Fault in Single-Verifier Setup After Kelp DAO Exploit

Crypto Frontier05-10 05:28

LayerZero issues an apology and admits a design flaw in its 1/1 DVN configuration: default to a full upgrade to 5/5

ChainNewsAbmedia05-10 00:25

Layerzero Discloses RPC Poisoning Incident Linked to $292M KelpDAO Hack

Coinpedia05-09 15:32
Comment
0/400
No comments