KelpDAO sues LayerZero, CEO over $292M rsETH bridge exploit

Evercrest Technologies, the company operating KelpDAO, has filed a civil claim in British Columbia against Layerzero Labs and CEO Bryan Pellegrino. The lawsuit follows a bridge exploit where attackers obtained 116,500 rsETH, valued at approximately $292 million, without a matching burn. KelpDAO asserts that Layerzero endorsed the bridge setup prior to the incident. Conversely, Bryan Pellegrino has dismissed the legal action, characterizing the claims as meritless five months after the initial bridge blowup occurred.