Axelar breaks down $290M bridge exploit, citing centralization, single operator setup, and compromised RPCs as key failures, urging stricter decentralization and security standards

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Aave's holding $236M in unliquidatable bad debt because the drained rsETH can't back its collateral anymore — a bridge exploit that became a lending insolvency event. Axelar's framing is self-serving (they sell multi-validator as a service), and the attack wasn't a validator compromise anyway — forged cross-chain messages on Kelp's LayerZero implementation released rsETH without matching burns. Post-Wormhole, bridges keep pitching validator diversity as the fix while message verification logic and downstream collateral chains keep absorbing the losses.

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Axelar breaks down $290M bridge exploit, citing centralization, single operator setup, and compromised RPCs as key failures, urging stricter decentralization and security standards

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Axelar breaks down $290M bridge exploit, citing centralization, single operator setup, and compromised RPCs as key failures, urging stricter decentralization and security standards

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Radiant Capital is winding down operations nearly two years after its October 2024 exploit, citing failed recovery efforts, lack of fresh capital and an unsustainable operating runway

Gnosis co-founder Martin Koppelmann says it will fully reimburse users after an exploit targeting Gnosis Pay’s Zodiac delay module allowed attackers to initiate transactions from affected wallets

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