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The $292 million Kelp DAO exploit shows why crypto bridges are still one of the industry’s weakest links

The $292 million vulnerability tied to KelpDAO is the latest in a long line of crypto bridge hacks, highlighting how systems designed to connect blockchains can become the easiest way to hack them. The incident involved KelpDAO’s use of LayerZero’s cross-chain messaging system, an infrastructure widely used to move data and assets between blockchains. The…

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Crypto Long & Short: Protecting the people building DeFi infrastructure

Welcome to our institutional newsletter, Crypto Long Short. This week: Jennifer Rosenthal talks about the need to protect the people actually building DeFi infrastructure. Alexis Sirkia talks about how Ethereum’s L2 strategy failed due to fundamental design flaws. Top Stories Agencies Should Watch By Francisco Rodrigues. Aave’s market share fell after rsETH was exploited on…

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DeSantis signs Florida law banning local DEI funding, says white men are ‘disfavored’

ORLANDO, Fla. (AP) — Florida Gov. Ron DeSantis said Wednesday that white men are being discriminated against because of diversity, equity and inclusion programs after signing legislation that bars counties and cities from funding or promoting DEI programs. The Republican governor defined DEI in a press conference as “an ideological construct designed to promote a…

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The Protocol: Kelp DAO exploited for $292 million

network news KELP DAO vulnerability: A cross-chain bridge holding nearly a fifth of the re-staking Ethereum circulating supply has just been depleted, and the impact is spreading across DeFi faster than the Kelp DAO contract suspension. Over the weekend at 17:35 UTC, an attacker drained 116,500 rsETH (recollateralized Ether) from Kelp DAO’s LayerZero-powered bridge, worth…

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