Lido Updates on Kelp Security Incident Progress: EarnETH Vault to Reopen After Protocol Recovery

Odaily Lido has released the latest update on the Kelp security incident, stating that the Snapshot vote regarding the EarnETH first-loss protection mechanism falling below the 1% threshold has reached quorum and been approved. User losses related to EarnETH will be fully covered by Lido Earn's first-loss mechanism. The rsETH held by the attacker has been liquidated, and the associated stETH has been transferred to the DeFi United rescue plan.

Furthermore, the EarnETH vault is expected to reopen shortly after the Kelp protocol resumes operations, allowing users to deposit and withdraw normally. Lido emphasized that during the freeze period, both the EarnETH and EarnUSD vaults continue to generate yields. Currently, EarnETH users only need to wait for the brief unfreezing process to be completed, after which they will receive compensation under the first-loss protection mechanism once the funds are restored.