A significant exploit hit the Kelp restaking platform, resulting in the loss of $293 million. The attack triggered a chain reaction, affecting numerous other crypto protocols.

The Kelp restaking platform has been exploited, with hackers draining approximately $293 million. This major security breach has sent ripples through the crypto space, impacting at least nine other protocols. Blockchain security experts described the event as a "cross-protocol contagion," highlighting the interconnected risks within decentralized finance. The incident underscores the ongoing challenges in securing digital assets and maintaining trust within the rapidly evolving Web3 ecosystem.