Kelp DAO has completed recovery of its restaked Ether token following a five-week effort to address a $293 million exploit attributed to North Korea's Lazarus Group in April.
The decentralized autonomous organization announced the restoration of its rsETH token after the April 18 security breach. The attack represented one of the largest cryptocurrency thefts linked to the Lazarus Group, the state-sponsored hacking collective sanctioned by the U.S. government.
Kelp DAO operates as a liquid restaking protocol built on Ethereum, allowing users to stake their Ether while earning additional yield through validator activities. The five-week recovery process involved securing affected assets and implementing fixes to prevent similar incidents.
The incident underscores persistent security vulnerabilities in decentralized finance platforms, even as the sector matures. Lazarus Group has conducted numerous high-profile cryptocurrency heists, including the 2022 Ronin bridge exploit that netted $625 million.
Kelp DAO's successful recovery suggests the protocol's architecture enabled asset preservation despite the breach, though details on potential user compensation remain unclear.
Morgan Stanley launched a cryptocurrency trading pilot on E*Trade with lower fees than Coinbase, Robinhood, and Charles Schwab. The firm plans a broader rollout in 2026.
Crypto exchange Bullish agreed to acquire UK-based financial services outsourcing firm Equiniti from Siris Capital for $4.2 billion. The deal is expected to close in January 2027.
Crypto investor Katie Haun has closed $1 billion in new venture funds, marking an expansion beyond digital assets into artificial intelligence and agentic finance.
Polymarket has partnered with blockchain analytics firm Chainalysis to deploy detection tools designed to identify insider trading patterns on its prediction market platform.