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Kelp DAO has attributed the $292 million rsETH exploit to an infrastructure breach at LayerZero Labs. In a related market poll, “Another crypto hack over $100m by December 31?” is trading at 100.0% YES, with the hack linked to North Korea’s Lazarus Group.
The exploit took place on April 18. Compromised LayerZero RPC nodes, combined with a DDoS attack, forced a failover to tainted verifiers. This sequence resulted in funds being drained.
Kelp paused contracts within 46 minutes, which it says prevented an additional $200 million loss. LayerZero later restored operations, with Kelp stating there was no broader protocol compromise.
The market for another $100 million-plus crypto hack by December 31 is at 100.0% YES. Traders are treating the outcome as definitive confirmation, and the Lazarus Group’s involvement aligns with prior patterns of North Korean cyber activity used to fund its regime under sanctions.
The incident highlighted a weakness in LayerZero’s RPC node infrastructure: a DDoS attack could trigger failover to compromised verifiers. The confirmed North Korea attribution adds a geopolitical dimension to what is described as the largest DeFi exploit of the year by dollar amount.
With the poll at 100% YES, the immediate upside for traders tied to that specific bet appears limited. However, holders who positioned before confirmation are described as being in a favorable position.
Further official statements and assessments from security firms such as CertiK and TRM Labs, as well as additional attribution work by blockchain analysis firms including Chainalysis or Elliptic. Any new findings could affect how traders price DeFi infrastructure risk going forward.
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