Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The “KelpDAO” protocol suffered a large-scale hacking attack, which is considered the largest hacking attack so far in 2026. The attackers stole approximately $294 million, which triggered widespread vigilance in the DeFi decentralized finance field.
According to analysis by security companies, attackers exploited vulnerabilities in the protocol bridge contract to withdraw large amounts of rsETH currency.
He then quickly converted the funds to Ethereum and distributed them across the Ethereum and Arbitrum networks in an attempt to hide his traces.
Things didn’t end there, as the attackers used the stolen currency as collateral on lending platforms such as “Aave”, “Compound” and “Euler” to borrow additional funds, resulting in a debt of over $236 million.
This situation has led to so-called protocol infections, where the hacker’s impact spreads across multiple interconnected platforms.
As a result, many exchanges have taken emergency measures, such as freezing rsETH transactions or reducing risks, with at least 9 different protocols affected.
“KelpDAO” confirmed the incident and announced the temporary suspension of some contracts, noting that it was working with technology and security departments to investigate and control the damage, but has not yet provided further details.
The hack highlights the growing risks in decentralized financial systems, particularly in interconnected protocols, where a single vulnerability could lead to a massive crisis.
Also read:
The ‘BlockDAG’ project is at the heart of a new fraud scandal in the cryptocurrency market
