Kelp DAO Restores Full rsETH Functionality After April Exploit Recovery

Kelp DAO completed its rsETH recovery on May 26 by sending the final 20,373.72 rsETH tranche, reopening mints, redemptions and bridging after the April 18 cross-chain attack. The sequence began May 22 when the Verus bridge exploiter returned 4,052 ETH (~75% of $11.58M) while retaining a $2.8M bounty. A May 24 private-key theft drained $2.8M from StablR and depegged its stables. On May 25 a SquidRouterModule exploit siphoned $3M from 86 Gnosis Safes into 3.07M DAI amid record 3.62M daily Ethereum transactions. The Kelp resolution reduces immediate bridge risk but leaves lingering legal and Aave bad-debt issues.