Morpho CEO Addresses Kelp DAO Attack and Ensures Contract Security

Morpho's co-founder and CEO, Paul Frambot, commented on the Kelp DAO attack, stating that Morpho's smart contracts are secure and functioning normally. According to Foresight News, only two isolated markets involving rsETH collateral loans, totaling approximately $1 million in ETH, were affected among thousands of markets. Out of over 500 Morpho Vaults, only two have exposure to these markets. Thanks to the completely isolated market design, all other Vaults remain unaffected, although broader ecosystem exposure could potentially lead to a ripple effect. Additionally, Morpho has proactively suspended the MORPHO token's OFT cross-chain bridge on Arbitrum until the root cause of the rsETH incident is identified.