Evercrest (KelpDAO) Files Civil Claim Against LayerZero and CEO Bryan Pellegrino in Canada LayerZero co-founder and CEO Bryan Pellegrino said Evercrest (KelpDAO) filed a notice of civil claim in British Columbia against LayerZero and Pellegrino personally. He called the claims meritless and said he would defend the case in Vancouver. KelpDAO said the lawsuit concerns the rsETH bridge exploit earlier this year. The complaint alleges that LayerZero failed to disclose risks in its technology or prevent its security infrastructure from being compromised, despite having reviewed and approved KelpDAO’s deployment and configuration in writing. In April 2026, KelpDAO’s rsETH bridge, built on LayerZero, was exploited, resulting in the theft of approximately 116,500 rsETH, then worth about $292 million. The two sides subsequently disputed responsibility for the incident.

#PeckShieldAlert# The @KelpDAO exploiter has finished moving all funds from #Ethereum# to #Bitcoin#, primarily routed through @THORChain - totaling $1,979 BTC. Meanwhile, the @Balancer exploiter has broken 5 months of dormancy. They’ve begun laundering funds via #Thorchain#, bridging $700K worth of $ETH into #BTC#.

#PeckShieldAlert# The @KelpDAO exploiter bridged $ETH from #Ethereum# to #Arbitrum# via @AcrossProtocol, swapped for $USDT0, and subsequently routed funds to @trondao via @LayerZero_Core

#PeckShieldAlert# The @KelpDAO exploiter has begun laundering stolen funds (~$176M). They have started bridging small batches of funds from #Ethereum# to $BTC via @THORChain, @UmbraCash, @chainflip, and @BitTorrent.

#PeckShieldAlert# The @KelpDAO exploiter is the #8# largest variableDebtEthWETH holder on #Aave# (#Ethereum#) with 52,443.94 units ($123M), and the #4# largest variableDebtarbWETH holder on #Arbitrum# with 12,381.93 units ($22M) Total Holding: 106,466.7 $ETH (~$250M)