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May 16

### Liquid Staking Is Easy to Enter. The rsETH Hack Reminded Me to Study the Exit.

In April, the Lazarus group, a cybersecurity organization sponsored by the North Korean government, exploited KelpDAO for about $292 million. The hacked used forged cross-chain messages to mint 116,500 unbacked rsETH and then use that asset inside DeFi lending markets. Note: rsETH, issued by Kelp DAO, is a liquid restaking token (LRT), that allows users to deposit their Ethereum staking assets (like stETH or ETHx) into EigenLayer and earn compounded yields. The exploit destabilized the DeFi i...

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[Rika](https://paragraph.com/0x28cd26d85b4ac655a489aa3f259f81283bd1a804)

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