“2.93 billion dollars” worth of rsETH: it’s minted by minting it—DeFi security is a lesson that still needs to be retaken.

ME News message: On April 19 (UTC+8), according to on-chain analyst Ember Monitoring, KelpDAO was exploited early this morning to mint 115,000 rsETH out of thin air through a vulnerability, with losses reaching up to $293 million. Most of these 115,000 rsETH were deposited into Aave and then borrowed out as ETH, while a small portion was sold to obtain ETH. Through collateralization and sale, the hacker obtained a total of 106,466 ETH (2.5