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17 days ago, Drift was just drained of 285 million, and today KelpDAO contributed another 293 million. This DeFi ATM machine, it’s impossible to fix.
Early this morning, KelpDAO was hacked with a vulnerability that forged 116.5k rsETH out of thin air. The attack method was very sophisticated: most of it was lent out on Aave in ETH, with a small part directly dumped to sell for cash. Both approaches combined, they ended up with 106,466 ETH, worth about 250 million USD.
These dirty funds are still sitting in this address untouched:
In half a month, two nearly 300 million dollar hacker incidents. DeFi security accounts, it’s time to do some serious calculations.