Lido: rsETH risk exposure is approximately 21.6 million USD, and a 3 million USD first loss protection will be activated if necessary

By: rootdata|2026/04/20 16:42:00

Share

copy

Lido stated on platform X that its EarnETH treasury was affected by the theft of 116,500 rsETH (approximately $29.2 million) from the Kelp DAO cross-chain bridge on April 18.

EarnETH holds approximately $21.6 million in rsETH risk exposure through leveraged positions in rsETH/ETH on Aave, accounting for about 9% of the total assets in the treasury. The EarnETH team is currently actively deleveraging to reduce risk, and the outcome depends on the final decisions made by Kelp, LayerZero, and Aave regarding loss sharing and bad debt handling.

Lido further stated that EarnETH has a $3 million "first loss protection mechanism" funded by the Lido DAO treasury, which will be used to cover losses if necessary. The treasury has currently suspended redemption processing to assess the losses. This incident does not affect stETH and wstETH, and the core staking protocol of Lido is not involved.

Popular coins

Latest Crypto News

18:42

Data: If BTC falls below $72,262, the cumulative long liquidation intensity on major CEX will reach $1.745 billion

According to Coinglass data, if BTC falls below $72,262, the cumulative long liquidation intensity on major CEXs will reach $1.745 billion. Conversely, if BTC breaks above $79,400, the cumulative short liquidation intensity on major CEXs will reach $852 million.

18:42

Data: If ETH falls below $2,211, the cumulative long liquidation intensity on major CEXs will reach $1.066 billion

According to Coinglass data, if ETH falls below $2,211, the cumulative long liquidation intensity on mainstream CEX will reach $1.066 billion. Conversely, if ETH breaks above $2,427, the cumulative short liquidation intensity on mainstream CEX will reach $719 million.

17:42

Data: The market's long and short competition intensifies, with the spot CVD turning negative indicating increased selling pressure, but ETF capital inflow provides support

Glassnode's latest report indicates that although buying interest remains strong, providing some buffer for prices, market sentiment is turning cautious. Data shows that the cumulative volume delta (CVD) has shifted from positive to negative, selling pressure is rising, and bearish sentiment is begi...

17:42

Lagarde: Broad fiscal support will force the European Central Bank to raise key interest rates

According to Jinshi reports, European Central Bank President Lagarde stated that if extensive fiscal support is implemented, it will force the European Central Bank to further raise key interest rates.

17:42

A certain whale withdrew 12,000 ETH from Binance to repay a loan on Aave

According to Lookonchain monitoring, a whale address starting with 0x8Ad4 withdrew 12,000 ETH (approximately 27.6 million USD) from Binance in the past 3 hours to repay its loan on Aave.