Kelp DAO said its rsETH cross-chain bridge was exploited, with about 116,500 rsETH siphoned off through LayerZero-related contract calls. At current prices, the loss is valued at roughly $292 million. The protocol has paused core contracts to block further attempts and is investigating the incident alongside LayerZero and Unichain. Aave has frozen rsETH markets and is reviewing potential bad debt exposure.

Kelp DAO said its rsETH cross-chain bridge was exploited, with roughly 116,500 rsETH siphoned off through LayerZero-related contract calls. The stolen funds are valued at about $292 million at current prices. The protocol has paused its core contracts to stop further attempts and said it is investigating alongside LayerZero and Unichain. Aave has frozen its rsETH markets and is reviewing potential bad-debt exposure.

RT Zack Abrams: In case you missed it, Kelp DAO was hit today by what appears to be the largest onchain hack of 2026, with the wider DeFi impact still being assessed. Attackers drained nearly $300 million via its LayerZero bridge. Another $100 million could have been lost if the contracts hadn't been paused. For the latest on what's known so far, see my newest story:

Aave said on X that it has frozen rsETH markets on Aave V3 and Aave V4 following a bridging vulnerability tied to Kelp DAO's rsETH. The move blocks new deposits and prevents users from borrowing against rsETH as collateral while the protocol evaluates the situation. Aave noted it is reviewing the available information and will share an update soon. If the incident leads to bad debt, Aave said Umbrella assets would be used to cover any shortfall.

Aave has frozen the rsETH markets on Aave V3 and Aave V4 following an exploit involving the Kelp DAO rsETH bridge. Aave said its own smart contracts were not exploited and described the issue as specific to rsETH. The freeze halts new rsETH deposits and prevents borrowing against rsETH collateral while the situation is assessed. Aave is reviewing rsETH borrowing activity on the protocol that occurred after the exploit and said it will provide further updates as soon as possible. If the incident results in bad debt for the protocol, Aave noted that Umbrella assets could be used to cover the shortfall.

Rhea Finance, a lending protocol in the NEAR ecosystem, has reported an estimated $18.4 million loss following an exploit tied to a flaw in its margin trading functionality. The attacker is believed to have abused the protocol's slippage protection mechanism by crafting fake liquidity pools and engineered swap routes. This setup enabled the opening of numerous margin positions and ultimately drained liquidity from the protocol's main pool. Rhea Finance said the latest figure is materially above earlier estimates of about $7.6 million. In a postmortem, the team said borrowed debt tokens were routed into attacker-controlled pools, while the protocol received only a negligible amount of position tokens in return. The resulting imbalance left many positions undercollateralized, triggering liquidations across the system. Rhea Finance said these forced liquidations depleted the reserve pool and produced "realized losses" affecting both the protocol and users. Rhea Finance said it is assessing available resources to pursue recovery for impacted users. The incident has renewed scrutiny of DeFi safeguards such as slippage protection, with security and audit teams reviewing similar mechanisms across other protocols. Liquidity providers in affected pools have taken losses, and the protocol's native token, RHEA, has declined following the exploit. The exploit follows other high-profile DeFi incidents, including a reported breach at Drift Protocol that was linked to $280 million in losses.

Kelp DAO's rsETH bridge was reportedly exploited in an attack described as LayerZero-based, with losses estimated at roughly $292 million.

Bank of America ($BAC) reported first-quarter net income of $8.6 billion, up 17% from a year earlier, as earnings per share came in at $1.11, beating the $1.01 consensus estimate and marking the bank's highest EPS in nearly two decades. Revenue rose 7.2% to $30.43 billion, ahead of the $29.93 billion estimate, supported by higher net interest income, stronger trading results, and improved investment banking fees. Equities trading revenue surged 30% to $2.83 billion, delivering the bank's best trading quarter in 15 years. Investment banking revenue climbed 21% to $1.8 billion. Net interest income increased 9% to $15.9 billion. CEO Brian Moynihan said the bank generated 290 basis points of operating leverage, helping lift returns on equity and assets. The results follow strong Q1 reports from @JPMorgan, which posted a 13% profit increase, and @GoldmanSachs, up 19%, reinforcing optimism about U.S. corporate fundamentals despite ongoing geopolitical headwinds.

The Wall Street Journal reported that the United States is preparing to board oil tankers linked to Iran and seize commercial vessels in international waters.