lido

According to on-chain analyst PeckShield (@PeckShieldAlert), the Solido Money protocol suffered a vulnerability attack, resulting in approximately 293.7 million SUPRA being stolen, of which about 220 million SUPRA has been transferred to a deposit address suspected to belong to Gate exchange.According to the official report from Solido Money, about 90% of the compromised funds belong to the foundation's holdings.

Ethereum's largest liquid staking protocol Lido announced the launch of the largest protocol upgrade since the V2 upgrade in 2023, which will integrate over 8 million staked ETH (approximately $16.5 billion) and migrate to the new validator architecture following the Ethereum Pectra upgrade. This migration is expected to reduce the number of Ethereum network validators by about one-third, lowering the load on the consensus layer.Lido stated that after the upgrade is completed, the number of attestation messages per epoch across the entire Ethereum network is expected to decrease by about 29%, thereby improving network operational efficiency. This upgrade will migrate professional node operators to the Curated Module v2 (CMv2) architecture. Unlike before, which mainly relied on operator reputation and historical performance, CMv2 requires Lido-selected node operators to lock ETH as collateral for the first time, providing economic guarantees for node operational performance.Lido indicated that all 34 selected node operators are expected to complete the migration, and no operators have exited due to the new collateral requirements. Lido's staking lead Isidoros Passadis stated that this upgrade will streamline the validator set supporting Lido's core staking business while enhancing security through capital constraints. Lido expects that this migration will result in a decrease of approximately 0.28% in annual staking yields for the protocol. Validators will continue to earn rewards before exiting the migration, with any yield loss likely occurring only during the brief period before balances are transferred to the new validators.

The Ethereum staking protocol Lido stated on platform X that the stETH Rebase has been completed as expected, and the missed ETH earnings due to insufficient calculations have been compensated, corresponding to an annual percentage rate (APR) of approximately 2.29%. At the same time, the protocol's oracle has been updated and passed the audit, with the new version improving report processing speed and helping to quickly identify the cause of similar issues in the future.Regarding the abnormal earnings calculation that occurred, Lido stated that contributors are currently conducting a root cause analysis, and more investigation details will be announced on the official forum and social media platforms. Throughout the entire incident, user funds have not faced any risk. The preliminary judgment is that the issue may stem from a special edge case: a validator in a pending deposit state was omitted from the earnings report, resulting in some staking earnings not being included in the calculations. Lido stated that a complete post-mortem report will be released in the coming days to further explain the cause of the issue, corrective measures, and subsequent improvement plans.

According to official news, Grayscale announced the appointment of Sebastian Pulido as the head of on-chain asset management, responsible for leading the company's on-chain product strategy.Sebastian has worked at Aave Labs, Goldman Sachs, and the Kinexys team at JPMorgan, possessing extensive experience in institutional finance and the digital asset sector.

According to Yu Jin Monitoring, an initial investor/institution of Lido transferred 4.3 million LDO (1.61 million USD) to Kraken after holding LDO for five and a half years. This institution received an investment allocation of 5 million LDO in December 2020, and at its peak in 2021, these LDO were worth 30 million USD, but now their market value is only 1.88 million USD.However, their cost of acquiring the coins was only 0.0085 USD, and even at the current price, they still have over 40 times the profit.

According to Onchain Lens monitoring, Chun Wang (@satofishi) transferred 4,950 ETH, worth 9.53 million dollars, to Binance after unstaking and unwrapping WETH through Lido.

According to monitoring by Onchain Lens, Justin Sun has recently continued to stake ETH through Lido Finance. 23 hours ago, Justin Sun staked another 13,000 ETH, worth approximately $23.08 million, bringing his total stake on Lido to 247,436 stETH, currently valued at about $430.2 million.Data shows that since February 2023, this staking position has generated a total of 11,307 stETH in staking rewards, worth approximately $26.82 million. Based on the current yield level, Justin Sun's position has an annualized return of about $9.5 million.

According to Onchain Lens monitoring, a certain wstETH whale withdrew 4,942 ETH from Binance, worth 8.83 million USD, and immediately staked it through Lido, receiving 3,990 wstETH in return.In the past 24 hours, this whale also withdrew 211.5 WBTC from Binance, worth 13.25 million USD. Currently, the total amount withdrawn has reached 22.08 million USD, with ETH having directly entered staking.

According to on-chain analyst Yu Jin's monitoring, the digital asset technology company KR1, listed on the London Stock Exchange, transferred 3.7 million LDO to Kraken one hour ago, equivalent to approximately 990,000 USD at current prices. KR1 is also an investor in Lido.Considering its current holding structure, the assets held by KR1, including ETH, DOT, NXM, RED, LDO, ATOM, and TIA, have generally experienced significant drawdowns this year, and this transfer may be related to asset adjustment needs.

According to The Block, crypto bank Anchorage Digital announced that it has integrated Lido, the largest liquid staking protocol for Ethereum, providing institutional clients with direct access to its derivative asset wstETH.Institutional users can mint and burn wstETH, while earning Ethereum staking rewards, combined with the custody and governance compliance framework provided by Anchorage.

According to Onchain Lens monitoring, the Ethereum Foundation has staked 4,938 ETH (7.86 million USD) with Lido and may continue to stake more.

According to the official Lido blog, Lido DAO has revoked the "official" bridge endpoints for wstETH on nine networks: zkSync Era, Mode, Scroll, Mantle, Swell, Zircuit, Soneium, Polygon PoS, and Lisk, through a Snapshot vote.This move is a resource adjustment at the governance level and does not affect the technical operation of the related bridges and contracts. Users can still hold, transfer, or bridge back wstETH on the aforementioned networks to Ethereum. Lido will stop security monitoring, ecosystem, and market support for these networks, but no migration deadline will be set.

Lido stated on social media that Swellchain will cease operations on June 15, 2026, and users need to withdraw their wstETH assets in advance.After June 15, 2026, Swellchain will be permanently closed, and any remaining wstETH may not be recoverable.

The Ethereum Foundation unstaked 21,271 ETH from Lido, triggering market panic. Arkham published an analysis stating that the foundation's move may be due to concerns about the security of third-party protocols.In addition, the foundation has recently sold ETH multiple times, indicating a need for treasury rebalancing, which typically would not lead to immediate selling.

According to Onchain Lens monitoring, the Ethereum Foundation redeemed 21,271 ETH from the Lido stETH withdrawal contract, worth approximately 49.66 million USD.

Lido released the latest updates on the Kelp security incident, stating that the Snapshot vote regarding the EarnETH first loss protection mechanism being below the 1% threshold has reached the quorum and been approved. The losses for EarnETH users will be fully covered by the Lido Earn first loss mechanism.The rsETH held by the attacker has been liquidated, and the related stETH has been transferred to the DeFi United rescue plan. In addition, the EarnETH treasury is expected to reopen shortly after the Kelp protocol resumes operations, at which point users will be able to conduct normal deposit and withdrawal operations. Lido emphasized that during the freeze period, the EarnETH and EarnUSD treasuries continue to generate returns. Currently, EarnETH users only need to wait for the brief unfreezing process to complete, and once the funds are restored, they will be compensated according to the first loss protection mechanism.

The Lido research forum has launched a new proposal suggesting that the DAO authorize a temporary reduction of the first loss protection trigger threshold for the EarnETH treasury during the Kelp event. According to current rules, the protection mechanism of Lido Earn only triggers when the treasury loss exceeds 1% of the holdings. However, the proposal points out that if the shortage of rsETH is resolved through DeFi United, the actual loss may be less than 1%.To ensure that EarnETH users receive full compensation, the proposal suggests a one-time exception during this event, allowing the use of the first loss fund to cover losses below the 1% threshold. The current estimated residual borrowing rate loss is about 400 to 600 ETH.The proposal emphasizes that this move is a one-time arrangement for user protection, brand reputation, and business considerations, and does not change the general 1% rule. Since the rsETH event is expected to be resolved within 5 to 10 days, and the standard voting window is 7 days, the proposal also has a sense of urgency.

The on-chain analysis platform Arkham posted on X that the Ethereum Foundation has unstaked approximately $48.9 million worth of ETH. Tracking data shows that the Ethereum Foundation has deposited WSTETH into Lido's unstETH contract, and after the unlocking process is completed, it will receive the corresponding ETH.The market's focus is on whether the ETH unstaked by the Ethereum Foundation will be sold further. Previously, the Ethereum Foundation has sold ETH multiple times for operational fund management, raising ongoing concerns in the market about potential selling pressure.

Lido has proposed to allocate up to 2,500 stETH (approximately $5.8 million) from the DAO to cover the asset gap of rsETH caused by the recent attack on Kelp DAO.Lido pointed out that the exploit based on LayerZero has led to insufficient rsETH reserves and triggered a chain reaction in the DeFi ecosystem, including rising interest rate pressures, a tightening lending market, and some leveraged strategies facing the risk of forced liquidation. The proposal emphasizes that these funds will only be used as part of a complete recovery plan, provided that the overall gap can be fully filled. Previously, the attack on Kelp DAO, amounting to approximately $292 million, had impacted Aave, causing bad debt issues, and its total locked value (TVL) once dropped by nearly $8 billion.

Lido has released the latest developments regarding the Kelp security incident, stating that its Earn series vaults are working with the management to address the issues, which involve two major risk points: the rsETH exposure and the liquidity tension in the lending market. Lido emphasizes that the core staking protocol has not been affected, and both stETH and wstETH remain safe and stable.Currently, only the EarnETH vault has an approximately 9% TVL exposure to rsETH, and related deposits and withdrawals have been suspended by the management, awaiting a solution. Approximately $70 million in ETH has been recovered from the previous attack, and the subsequent asset recovery and loss distribution are still in progress. In response to liquidity pressure, the management has reduced leverage and optimized the position structure, significantly decreasing the wETH debt exposure. If losses ultimately occur, EarnETH will activate a $3 million "first loss protection mechanism" (funded by the DAO). As for other vaults, DVV and EarnUSD have not been affected and are operating normally; the GGV sub-vault is currently experiencing negative returns due to the combination of circular staking strategies and rising lending rates, but adjustments are ongoing. Withdrawal requests submitted by users will be processed based on valuations prior to the incident.