KELP (KELP)

Wu said he learned that the United States, Japan, and South Korea held a trilateral diplomatic working group meeting on North Korean cyber threats in Washington from June 25 to 26, coordinating responses to North Korea's activities of stealing cryptocurrency, laundering money, IT personnel infiltration plans, and other malicious cyber activities to generate revenue. The three countries expressed concern over North Korea's cryptocurrency thefts, citing incidents where KelpDAO and Drift Protocol were each stolen of roughly $290 million and $285 million respectively, and pledged to strengthen the exposure and risk warnings of North Korean crypto theft activities, especially in Europe, Southeast Asia, and Africa. At the same time, the three parties noted that the risk of North Korean IT personnel using AI technology to conduct fraud is rising, and will support the industry in enhancing related detection and prevention capabilities, and continue to strengthen law enforcement cooperation and the enforcement of international sanctions to curb North Korea's illicit earnings from cyber activities. Companies such as Coinbase, Mandiant Threat Intelligence, Polymarket, and Upwork also participated in the working group's first private-sector meeting. https://t.co/rrtJu8e7zY

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🛑 LayerZero Admits Error in $292M Kelp Exploit

LayerZero acknowledged it "made a mistake" in the $292 million Kelp exploit, according to Coindesk. The protocol initially framed the incident as a developer configuration failure but now says it "owns" the decision to let its own verifier secure high-value transfers in a vulnerable setup.