LayerZero CEO Bryan Pellegrino Faces $292M Hack Lawsuit

KelpDAO has filed a lawsuit against LayerZero and its co-founder Bryan Pellegrino, seeking to hold them accountable for a $292 million hack of its rsETH token in April.

The suit claims that the exploit resulted from LayerZero's failure to disclose weaknesses in its technology and prevent an infiltration of its security infrastructure.

In a statement on X, KelpDAO alleged that LayerZero reviewed and endorsed its deployment and configuration of their technology, which directly challenges LayerZero's argument that the attack was isolated to KelpDAO's rsETH configuration.

Pellegrino has responded by calling the claim 'meritless' and stating that he will defend himself in Vancouver courts.