Current outcome
Evercrest Technologies, KelpDAO's parent, is suing LayerZero Labs and its CEO, with LayerZero denying the claims; roughly $14.5B in assets have announced migrations from LayerZero to Chainlink CCIP, and the case is testing cross-chain security responsibility.
Progress timeline
2 material updates- #01
KelpDAO sues LayerZero and CEO over $292M rsETH bridge exploit - CoinDesk
KelpDAO has sued LayerZero and its CEO over the $292M rsETH bridge exploit, escalating the dispute over responsibility for the cross-chain losses.
Source evidence: CoinDesk
- #02
Nearly $15B is moving off LayerZero, now a $292M lawsuit puts its security model on trial
New coverage discloses that plaintiff is Evercrest Technologies, KelpDAO's parent, suing LayerZero Labs and CEO Bryan Pellegrino in British Columbia on claims of negligence, misrepresentation and defamation; Kelp users have withdrawn over $650M since the attack; roughly $14.5B in assets have announced migrations from LayerZero to Chainlink CCIP; and LayerZero's CEO called the suit meritless.
State after update: Evercrest Technologies, KelpDAO's parent, is suing LayerZero Labs and its CEO, with LayerZero denying the claims; roughly $14.5B in assets have announced migrations from LayerZero to Chainlink CCIP, and the case is testing cross-chain security responsibility.
Source evidence: CryptoSlate