KelpDAO Suffers Major Exploit Resulting in Significant Losses

KelpDAO experienced a significant security breach on April 19, resulting in the unauthorized creation of 116,500 rsETH tokens. According to BlockBeats, the attack led to losses estimated at approximately $293 million. The majority of the illicitly minted rsETH was deposited into Aave as collateral to borrow ETH, while a smaller portion was directly sold for ETH. The hacker managed to acquire a total of 106,466 ETH through these actions.