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Aave Models $124M to $230M in Bad Debt From Kelp Exploit
Hacks

Aave Models $124M to $230M in Bad Debt From Kelp Exploit

In a detailed incident report, Aave service providers quantified the protocol's exposure for the first time and outlined two scenarios depending on how Kelp DAO allocates the loss. LayerZero and Kelp continue to blame each other for the compromised bridge configuration.
Dune Analytics Reveals 47% of LayerZero OApps Use Minimal DVN Security Following KelpDAO Hack
Security

Dune Analytics Reveals 47% of LayerZero OApps Use Minimal DVN Security Following KelpDAO Hack

Analysis of 2,665 LayerZero OApp contracts shows nearly half rely on single-validator security configurations, the same setup that exposed KelpDAO's rsETH to exploitation.
Hardware Wallet Tangem Announces Global Rollout of Its Retail Payments Service
Infrastructure

Hardware Wallet Tangem Announces Global Rollout of Its Retail Payments Service

Tangem Pay lets users spend USDC directly from their self-custodial Tangem wallets, settling all transactions on Polygon.
DeFi Contagion Spreads Beyond Aave as LayerZero, Lido, Ethena Suffer Sharp Declines: Santiment
DeFi

DeFi Contagion Spreads Beyond Aave as LayerZero, Lido, Ethena Suffer Sharp Declines: Santiment

AAVE, ZRO, LDO, and ENA tokens plunged 10–22% as market repriced risk across DeFi protocols exposed to a bad debt event, with LayerZero priced as equally culpable as the originating lender.
LayerZero Post Mortem Shows Lazarus Group Stole $290M From KelpDAO via RPC Node Compromise
Hacks

LayerZero Post Mortem Shows Lazarus Group Stole $290M From KelpDAO via RPC Node Compromise

North Korea's Lazarus Group exploited a single-verifier LayerZero setup to drain $290M in rsETH on April 18 by compromising RPC infrastructure and poisoning the bridge's data feeds.
Three Major Japanese Financial Institutions Tap Canton to Bring Government Bonds On-Chain
TradFi & Fintech

Three Major Japanese Financial Institutions Tap Canton to Bring Government Bonds On-Chain

Mizuho, Nomura, and Japan's central clearing house are launching a blockchain-based proof-of-concept for collateral management of Japanese government bonds.
Kelp DAO Loses $293M in Bridge Exploit, Leaving Aave With Over $200M in Bad Debt
DeFi

Kelp DAO Loses $293M in Bridge Exploit, Leaving Aave With Over $200M in Bad Debt

Attacker minted unbacked rsETH through Kelp's LayerZero bridge, then borrowed WETH on Aave V3 and V4 before markets could freeze.
Wrapped XRP Now Available Across Major Solana Apps: Solana
DeFi

Wrapped XRP Now Available Across Major Solana Apps: Solana

Solana announced wXRP is live on Titan Exchange, Real, Phantom, Jupiter, and Meteora, expanding cross-chain asset availability on the blockchain.
X Generates $1 Billion in Trading Volume Days After Launching Cashtags Feature: X
Markets

X Generates $1 Billion in Trading Volume Days After Launching Cashtags Feature: X

X's new cashtags trading pilot for stocks and crypto reached an estimated $1 billion in volume within days of its Tuesday launch.
Bitcoin Touches $78,000 As Iran Declares Strait of Hormuz 'Completely Open'
Markets

Bitcoin Touches $78,000 As Iran Declares Strait of Hormuz 'Completely Open'

A geopolitical breakthrough and strong ETF inflows converged to lift crypto markets on Friday.