Scan to download
BTC $77,724.25 +0.02%
ETH $2,319.85 +0.53%
BNB $637.53 +0.50%
XRP $1.44 +0.43%
SOL $86.48 +1.02%
TRX $0.3232 -1.63%
DOGE $0.0987 +1.68%
ADA $0.2517 +1.24%
BCH $455.31 -0.26%
LINK $9.42 +1.55%
HYPE $41.22 +0.62%
AAVE $95.01 +1.17%
SUI $0.9516 +1.19%
XLM $0.1736 +0.12%
ZEC $358.64 +4.29%
BTC $77,724.25 +0.02%
ETH $2,319.85 +0.53%
BNB $637.53 +0.50%
XRP $1.44 +0.43%
SOL $86.48 +1.02%
TRX $0.3232 -1.63%
DOGE $0.0987 +1.68%
ADA $0.2517 +1.24%
BCH $455.31 -0.26%
LINK $9.42 +1.55%
HYPE $41.22 +0.62%
AAVE $95.01 +1.17%
SUI $0.9516 +1.19%
XLM $0.1736 +0.12%
ZEC $358.64 +4.29%

security

Lido discloses the impact of the Kelp security incident: approximately 9% of EarnETH exposure affected, core staking assets are secure

Lido has released the latest developments regarding the Kelp security incident, stating that its Earn series vaults are working with the management to address the issues, which involve two major risk points: the rsETH exposure and the liquidity tension in the lending market. Lido emphasizes that the core staking protocol has not been affected, and both stETH and wstETH remain safe and stable.Currently, only the EarnETH vault has an approximately 9% TVL exposure to rsETH, and related deposits and withdrawals have been suspended by the management, awaiting a solution. Approximately $70 million in ETH has been recovered from the previous attack, and the subsequent asset recovery and loss distribution are still in progress. In response to liquidity pressure, the management has reduced leverage and optimized the position structure, significantly decreasing the wETH debt exposure. If losses ultimately occur, EarnETH will activate a $3 million "first loss protection mechanism" (funded by the DAO). As for other vaults, DVV and EarnUSD have not been affected and are operating normally; the GGV sub-vault is currently experiencing negative returns due to the combination of circular staking strategies and rising lending rates, but adjustments are ongoing. Withdrawal requests submitted by users will be processed based on valuations prior to the incident.

Jefferies: Kelp DAO security incident may slow down Wall Street's blockchain layout

Jefferies, a Wall Street investment bank, pointed out that the approximately $293 million attack incident on Kelp DAO exposed critical infrastructure risks, which may prompt traditional financial institutions to reassess the pace of blockchain and tokenization advancement.Jefferies believes that the attackers triggered market sell-offs and liquidity strains by minting uncollateralized tokens and engaging in cross-platform lending. This incident is thought to be related to the Lazarus Group and also highlights the single point of failure issues in the verification mechanisms of cross-chain bridges. As institutions accelerate the tokenization of assets (such as funds, bonds, and deposits), the associated risks may cause some banks and asset management institutions to delay deployment and prioritize examining system security. Especially in scenarios that rely on cross-chain infrastructure, security vulnerabilities could lead to market fragmentation, undermining the practical utility of tokenized assets.Despite short-term confidence being shaken, Jefferies still emphasizes that the long-term trend remains unchanged. Under the backdrop of regulatory advancements and continuous improvements in infrastructure, applications such as stablecoins still have growth potential. However, the industry as a whole is still in the early stages of development and requires time to enhance system robustness.
app_icon
ChainCatcher Building the Web3 world with innovations.