Kelp DAO Sues LayerZero and CEO Bryan Pellegrino Over $292M rsETH Exploit

Evercrest Technologies, the developer behind liquid restaking protocol Kelp DAO, has sued LayerZero Labs and its co-founder and CEO Bryan Pellegrino in the Supreme Court of British Columbia, escalating a months-long blame dispute over the April exploit of the rsETH bridge into formal litigation.

The notice of civil claim is dated September 24 and was published by Kelp late on Thursday.

Kelp argues the roughly $292 million attack “was a direct result of LayerZero’s failures,” while LayerZero has maintained in its own post-incident statement that the loss came from Kelp’s single-verifier setup.

What the claim alleges The filing pleads negligent misrepresentation, negligence and defamation, and seeks damages including aggravated and punitive damages, though it names no figure.