What the Kelp DAO Exploit Reveals About Bitcoin Lending
In April, an attacker drained 116,500 rsETH, roughly $292 million, from Kelp DAO’s LayerZero-powered cross-chain bridge. LayerZero attributed the assault to North Korea’s Lazarus Group, particularly the sub-group often known as TraderTraitor. Incidents like these spotlight a well-known sample that we’re recognizing: every new exploit turns into “proof” that on-chain lending and collateralized borrowing are…