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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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A Snapshot vote has commenced to release $71 million in frozen ETH linked to the Kelp exploit, with the proposal widely expected to pass. This current vote will pave the way for a binding on-chain governance proposal on the Arbitrum network as a critical step in recovery efforts. This follows the Aave protocol's successful liquidation of the hacker's final positions, marking a milestone in debt recovery. Meanwhile, Solv Protocol has migrated $700 million in assets to Chainlink, joining Kelp DAO in a broader industry pivot away from LayerZero infrastructure. Total assets migrated by both entities now approach $1 billion, signaling a shift toward Chainlink's CCIP for cross-chain security. The legal dispute between Kelp and LayerZero Labs persists regarding the vulnerability that led to the theft of 116,500 rsETH.