Analysis revealed that the recent KelpDAO hacking incident was caused by lax security settings. WuBlockchain reported, citing on-chain data analysis platform Dune, that 47% of LayerZero-based applications (OApps) are using a 1-of-1 DVN method, which passes with only a single validator. KelpDAO also used this lowest security grade. It is pointed out that only 5% of all applications have applied high security with 3-of-3 or more validators, raising concerns that a second KelpDAO incident could occur.
