KelpDAO Sues LayerZero and CEO Bryan Pellegrino Over $292M Hack

KelpDAO has filed a lawsuit against LayerZero and its co-founder Bryan Pellegrino, accusing the bridge provider of security failures behind the $292 million exploit of its rsETH token in April.

The suit, filed in British Columbia, is KelpDAO’s most direct attempt yet to hold LayerZero accountable after months of public disagreement over what caused the breach.

KelpDAO Accuses LayerZero of Security Failures In a statement posted on X on September 25, KelpDAO alleged that the exploit resulted from LayerZero’s failure to disclose weaknesses in its technology and prevent an infiltration of its security infrastructure.

“Rather than take responsibility, over the last few months, LayerZero and Mr. Pellegrino publicly blamed us for their failures,” KelpDAO stated.