Ripple Expert Raises Questions About KelpDAO Exploit Explanation

Ripple CTO Emeritus David Schwartz has sparked a debate in the cryptocurrency community by questioning the explanation behind the recent KelpDAO exploit.

The incident, which occurred on April 18, resulted in the loss of over $290 million. In an initial update, LayerZero stated that the KelpDAO exploit was isolated to its rsETH configuration and was caused by a single-DVN setup. However, this explanation has been challenged by Schwartz, who pointed out that LayerZero CEO Bryan Pellegrino previously stated that no application relies solely on the Decentralized Verifier Network (DVN).

In a tweet, Schwartz asked whether something had changed between late 2024 and now, given that Pellegrino's statement seemed to contradict the explanation provided for the KelpDAO exploit. This has raised questions about the reliability of LayerZero's claims and the security of its systems.