Nearly $15B is moving off LayerZero, now a $292M lawsuit puts its security model on trial
Evercrest Technologies, the company behind KelpDAO, has sued LayerZero Labs, its Canadian affiliate, and CEO Bryan Pellegrino in British Columbia over April's $292 million rsETH exploit. The claim alleges negligent misrepresentation, negligence and defamation, seeks aggravated and punitive damages, and says Kelp users have withdrawn more than $650 million since the attack. Pellegrino has called […] The post Nearly $15B is moving off LayerZero, now a $292M lawsuit puts its security model on trial appeared first on CryptoSlate.
Key Takeaways
- Evercrest Technologies, the company behind KelpDAO, has sued LayerZero Labs, its Canadian affiliate, and CEO Bryan Pellegrino in British Columbia over April's $292 million rsETH exploit.
- The claim alleges negligent misrepresentation, negligence and defamation, seeks aggravated and punitive damages, and says Kelp users have withdrawn more than $650 million since the attack.
- Pellegrino has called […] The post Nearly $15B is moving off LayerZero, now a $292M lawsuit puts its security model on trial appeared first on CryptoSlate.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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