$292 Million Altcoin Bridge Attack Heads to Court as Lawsuit is Filed

KelpDAO has filed a lawsuit against LayerZero and its CEO, Bryan Pellegrino, over a $292 million attack on the KelpDAO rsETH bridge in April. The bridge, built on LayerZero infrastructure, was compromised, resulting in the theft of approximately 116,500 rsETH worth around $292 million at the time.

KelpDAO alleges that LayerZero failed to disclose risks associated with the technology used and could not prevent its security infrastructure from being compromised. The company also claims that LayerZero reviewed and approved KelpDAO's setup and configuration in writing.

Pellegrino has responded, stating that the allegations are baseless and that he will defend himself and the company in Vancouver.