KelpDAO sues LayerZero, CEO over $292M rsETH bridge exploit
60-second summary
KelpDAO files a lawsuit against LayerZero and its CEO Bryan Pellegrino, alleging the protocol endorsed the rsETH bridge that suffered a $292 million exploit; Pellegrino calls the claim meritless. The legal action highlights governance and security responsibilities in cross‑chain services, and investors watch for potential liability fallout that could pressure bridge fees and broader DeFi adoption.
KelpDAO says LayerZero endorsed its bridge setup before the attack, while CEO Bryan Pellegrino has dismissed the lawsuit as meritless.