DAO
It also is known as the digital decentralized autonomous organization (DAO). The DAO served as a form of investor-directed venture capital fund that seeks to provide the enterprise with new decentralized business models. Built on the Ethereum blockchain, The DAO’s code was open-source. The organization set the record for most crowdfunded projects in 2016, however, those funds were partially stolen by hackers cause an Ethereum hard-fork that created Ethereum Classic.
47% of LayerZero OApps at Risk After $292M Kelp DAO Hack
Nearly half of LayerZero OApps share the same risky 1-of-1 DVN configuration exploited in the $292M Kelp DAO hack. Here's what it means for the ecosystem.
DeFi Protocols Pledge 43,500 ETH to Recover from $293M Kelp Exploit
DeFi protocols, including Aave and Lido, pledge $101M in ETH to limit fallout from the $293M Kelp DAO exploit. Contagion risks remain a concern.
Aave Deposits Plunge $15B After Kelp DAO Exploit
A $293M exploit on Kelp DAO has triggered a $15B liquidity outflow from Aave, exposing vulnerabilities in DeFi lending protocols.
Umbra Shuts Front End Amid $280M Kelp Exploit Fallout
Umbra disables its front-end to hinder hackers from laundering $280M stolen in the Kelp DAO exploit. Privacy protocols face scrutiny.
Taiko Achieves 100% ZK Coverage, Slashes Mainnet Finality to 2s
Taiko's 2025 milestones include 100% zero-knowledge (ZK) proof coverage, 2-second finality, and DAO governance, solidifying its position as a leader in Ethereum scaling.
Kelp Exploiter Launders $175M in Stolen Funds via THORChain, Umbra
Kelp DAO exploiter begins laundering $175M in ETH post $290M hack using decentralized protocols like THORChain. Arbitrum freezes 30,766 ETH.
Arbitrum Freezes $71M in ETH Linked to Kelp DAO Hack
Arbitrum's security council froze 30,766 ETH connected to the $293M Kelp exploit, sparking debate over Layer 2 decentralization and governance powers.
Aave Proposes Two Paths to Handle $230M Bad Debt From Kelp DAO Hack
LlamaRisk outlines scenarios for allocating losses from the $293M Kelp DAO exploit, with Aave facing up to $230M in bad debt depending on Kelp's decision.
LayerZero Blames Kelp's Single DVN Setup for $290M Exploit as Aave Bleeds $8.9B
LayerZero says Kelp ignored security advice, used single verifier setup enabling $290M hack. Aave TVL drops $8.9B as bad debt mounts and blame game intensifies.
AAVE Token Crashes 20% as $293M Kelp DAO Hack Triggers $8B TVL Exodus
Aave loses $8 billion in TVL after hackers use stolen Kelp DAO funds as collateral, creating $195M in bad debt and freezing $5.1B in stablecoins.