Kelp DAO said it will migrate its restaking token, rsETH, to Chainlink’s oracle and cross-chain messaging infrastructure after the April exploit that drained about $292 million and triggered wider concern across decentralized finance. The move comes as the protocol continues to blame LayerZero’s cross-chain setup for the breach.
On April 18, attackers stole 116,500 Kelp DAO restaked ETH tokens from a LayerZero-powered bridge. The stolen assets were then used as collateral on Aave v3 to borrow wrapped Ether, deepening the impact of the incident across interconnected lending markets. Kelp described the migration as a security step intended to make rsETH safer following the attack.
The dispute has centered on whether the vulnerability came from LayerZero’s infrastructure or from Kelp’s configuration choices. LayerZero said in its earlier postmortem that the exploit resulted from an insecure setup involving Kelp’s decentralized verifier network, or DVN, which relied on a single verified path rather than multiple independent checks. LayerZero said it had warned against that configuration.
Kelp rejected that account, saying the single-DVN arrangement was the default and was also used by many other protocols. It pointed to analytics suggesting that roughly half of LayerZero users operate with a single DVN. Kelp also said the setup had been approved and that the team had not been informed of any material security risk.
In response to the attack, LayerZero said it will no longer validate or approve cross-chain messages for applications using a single verifier and is moving affected protocols to a multi-DVN model. Bryan Pellegrino, LayerZero’s co-founder and chief executive, said many of Kelp’s statements were inaccurate and argued that the protocol had changed from a safer default configuration to a manual 1/1 setup that was not suited for production use. He said an external security postmortem would be released soon.
The episode has been one of the year’s most significant crypto security failures, with investigators also suspecting North Korea-linked hackers of involvement in the Kelp attack and a separate April 1 exploit of decentralized exchange Drift. gold prices advanced in India on Wednesday, reflecting firmer international pricing and currency adjustments used to convert global benchmarks into local units. The metal was valued at 14,267 Indian rupees per gram, up from 13,975 rupees on Tuesday. On a per-tola basis, gold climbed to 166,400 rupees from 163,006 rupees a day earlier.
The domestic figures are derived from global spot prices and the rupee-dollar exchange rate, then translated into Indian market units. Because of that methodology, local quotations may differ slightly from dealer to dealer and from one city to another, depending on taxes, transportation costs, and near-term demand conditions.
gold remains one of the most closely watched assets in global markets because it serves several functions at once. Beyond its traditional role in jewelry and ornamentation, it is widely used as a store of value and often attracts buyers when financial markets become unsettled. Investors also tend to view it as a hedge against inflation and against weakness in paper currencies, since it is not tied to the credit of any single government or issuer.
Central banks continue to be major holders of the metal. Their purchases are often aimed at diversifying reserves and reinforcing confidence in their balance sheets during periods of volatility. In recent years, reserve accumulation has been especially notable among emerging-market economies, including China, India and Turkey, which have been expanding their gold holdings at a faster pace.
gold ’s direction is also shaped by its relationship with the US dollar, US government bonds and broader risk appetite. Because the metal is priced in dollars, a stronger US currency can restrain gains, while a weaker dollar often provides support. At the same time, falling bond yields and a less stable economic outlook generally improve gold ’s appeal, whereas stronger stock markets and higher interest rates can limit demand for the precious metal.
