Technical

Srinivasa Reddy Kandi: North Korea-Linked Hackers Accused in $290M Crypto Heist Targeting Kelp DAO

April, 21, 2026-04:10

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North Korea-Linked Hackers Accused in $290M Crypto Heist Targeting Kelp DAO:

A major cryptocurrency breach over the weekend resulted in losses exceeding $290 million from Kelp DAO, a platform designed to generate returns on idle digital assets. The incident is now considered the largest crypto theft of the year, surpassing a previous $285 million breach at Drift earlier in April.

By Monday, LayerZero—one of the affected projects—attributed the attack to actors linked to North Korea. According to the company, the attackers exploited vulnerabilities in Kelp DAO through its LayerZero bridge, a system that facilitates communication between different blockchain networks.

The breach was reportedly made possible by weaknesses in Kelp DAO’s security setup, particularly the absence of multi-step transaction verification. This allowed the attackers to execute fraudulent transactions and extract funds.

LayerZero pointed to early evidence suggesting involvement from “TraderTraitor,” a hacking group believed to operate under North Korean direction and known for targeting cryptocurrency platforms.

However, Kelp DAO has disputed these claims, instead placing responsibility on LayerZero for the exploit.

Cyberattacks tied to North Korea have increasingly focused on cryptocurrency in recent years. Reports indicate that such groups stole over $2 billion in crypto assets last year alone, with cumulative thefts since 2017 estimated at around $6 billion, highlighting the growing scale and sophistication of these operations.

Author: Kandi Srinivasa Reddy, Srinivasa Reddy Kandi, #KandiSrinivasaReddy, #SrinivasaReddyKandi