KelpDAO Restores rsETH After 2026's Biggest DeFi Hack: Recovery Process Completed.
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KelpDAO Restores rsETH After 2026's Biggest DeFi Hack.
KelpDAO has successfully reactivated the rsETH token following the biggest DeFi hack of 2026, completing its operational recovery plan.
- KelpDAO completed the recovery of the rsETH token in five weeks after a $293 million hack.
- The final tranche of 20,373.72 rsETH was sent to the LayerZero smart contract, enabling the reprocessing of rsETH.
- The hack resulted in $190 million in bad debt and significant liquidity outflows from the Aave protocol.
KelpDAO's rsETH recovery process is seen as a crucial step to alleviate the liquidity crisis in the DeFi ecosystem.