LayerZero Issues Apology for Kelp DAO Exploit Handling, Acknowledges Flaws in Single-Verifier Configuration; Dune Reports Nearly 47% of LayerZero OApps Used Identical Default Setup in April (Zack Abrams/The Block)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Source: Techmeme
Apology from LayerZero: LayerZero published a blog post apologizing for poor communication following the $292 million exploit of the Kelp DAO, which occurred three weeks prior.
Deficient Setup: The single-verifier setup used by LayerZero was identified as deficient, with approximately 47% of LayerZero applications having the same default setup that contributed to the exploit.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
