Current outcome
KelpDAO developer Evercrest has filed a civil claim in the Supreme Court of British Columbia against LayerZero Labs Ltd., LayerZero Labs Canada Inc. and Bryan Pellegrino personally, alleging negligent misrepresentation, negligence and defamation over the approximately $292 million rsETH bridge exploit; LayerZero CEO Pellegrino has publicly dismissed the claim as meritless and said he will defend it in Vancouver; no formal response to the claim has been filed yet, leaving the matter in open dispute.
Progress timeline
3 material updates- #01
Evercrest (KelpDAO) Files Civil Claim Against LayerZero and CEO Bryan Pellegrino - Coinpedia
Evercrest (KelpDAO) has filed a civil claim against LayerZero and CEO Bryan Pellegrino, escalating legal action over the interoperability protocol's role in the KelpDAO incident.
Source evidence: Coinpedia
- #02
KelpDAO sues LayerZero, CEO over $292M rsETH bridge exploit
Added specific allegations (LayerZero endorsed KelpDAO's bridge setup in writing but failed to disclose security risks), the approximately $292M / 116,500 rsETH loss figure, and LayerZero CEO Pellegrino's first public response calling the lawsuit meritless and vowing to defend in Vancouver.
State after update: KelpDAO has filed a civil lawsuit against LayerZero and its CEO Bryan Pellegrino over the roughly $292 million rsETH bridge exploit; LayerZero's CEO has publicly dismissed the claim as meritless and said he will defend the case in Vancouver, moving the matter into open dispute.
Source evidence: Cointelegraph · The Block
- #03
KelpDAO Developer Sues LayerZero Over $292M Bridge Exploit
Added lawsuit specifics: Evercrest Technologies filed a civil claim in the Supreme Court of British Columbia against LayerZero Labs Ltd., LayerZero Labs Canada Inc. and Bryan Pellegrino personally, alleging negligent misrepresentation, negligence and defamation; damages include a 2,000 ETH contribution to restore rsETH backing, over $650 million withdrawn after the exploit and losses from the KERNEL token decline; the claim also details the attack timeline (malware on a LayerZero developer's computer on March 6, node tampering by April 18) and alleges LayerZero failed to give Evercrest a risk warning comparable to one given to USDT0; no response to the claim has yet been filed.
State after update: KelpDAO developer Evercrest has filed a civil claim in the Supreme Court of British Columbia against LayerZero Labs Ltd., LayerZero Labs Canada Inc. and Bryan Pellegrino personally, alleging negligent misrepresentation, negligence and defamation over the approximately $292 million rsETH bridge exploit; LayerZero CEO Pellegrino has publicly dismissed the claim as meritless and said he will defend it in Vancouver; no formal response to the claim has been filed yet, leaving the matter in open dispute.
Source evidence: Decrypt