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Kelp Completes rsETH Recovery Plan After Final 20,373.72 Token Transfer

Kelp Completes rsETH Recovery Plan After Final 20,373.72 Token Transfer

According to Kelp, the operational phase of the rsETH recovery plan has concluded more than five weeks after a $293 million hack linked by investigators to Lazarus Group disrupted the protocol.

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RSETH

Fact Check
The official KelpDAO announcement directly confirms the final 20,373.72 rsETH tranche was sent to the OFT adapter, concluding the operational phase of the recovery plan. Both crypto.news and PANews corroborate the completion of recovery more than five weeks after the $293M exploit linked to Lazarus Group.
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Summary

Kelp said the operational phase of its rsETH recovery plan is complete after transferring the final 20,373.72 rsETH to the rsETH OFT adapter. Over the past two weeks, Kelp and Aave replenished about 116,000 rsETH to the adapter, allowing rsETH minting, redemption, and rewards to resume normal operations. The update comes more than five weeks after the Ethereum liquid staking protocol lost $293 million in a hack that investigators linked to North Korea’s Lazarus Group.

Terms & Concepts
  • rsETH: A liquid restaking token that represents staked Ether exposure while remaining transferable and usable across other crypto applications.
  • OFT adapter: A cross-chain token connector used to help move or manage token balances between networks.
  • Minting: The creation of new tokens within a blockchain-based asset system under protocol rules.