Kelp DAO Gets Fleeced for $293 Million in Latest Masterclass of Decentralized Financial Folly
Restaking protocol Kelp DAO managed to drop a staggering $293 million after an attacker manipulated its valuation logic and token pricing mechanisms. Meanwhile, out here in the Baja dust, the local stray dogs have a tighter governance model than most Web3 foundations. Nobody cares about rsETH peg ratios when the afternoon breeze is kicking up dust devils through the trailer park. Good luck recovering those funds from a beach hammock, gents.