Kelp DAO suspends deposits and withdrawals as Gnosis wallet suffers $7.8M exploit

An unidentified Gnosis Safe wallet was exploited for nearly $7.8M in rsETH. The attack drained DeFi liquidity, leaving the token and vaults with worthless tokens. 

An attack was registered on September 15 against a Gnosis Safe wallet user, who has not yet been identified. The wallet was exploited for $7.73M in rsETH, according to Blockaid data. 

The wallet was drained in a single transaction, taking away the equivalent of 2,153 ETH, which was later split and moved across multiple wallets. The initial transaction shows the funds were finally parked in rsETH, without being swapped into ETH on the main chain for further laundering. 

This is the next major hack after the Bitcoin Pay hacker took 4,000 BTC from non-custodial user wallets. For September to date, decentralized hacks and exploits already surpass the level for the whole of August.

In the past three months, exploits have accelerated from their lows, showing more interest in AI-assisted hacks and targeting liquidity accumulation in DeFi protocols and specific vaults. 

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