ETH Developer Warns: Ethereum Needs Validity Proofs to Stay Competitive

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Ethereum Foundation developer and researcher Barnabé Monnot indicates that the latest crypto hacks highlight a larger goal for Ethereum as well as many crypto assets. Advertisement Over the weekend, the crypto market woke up to news regarding the exploit of the KelpDAO protocol. A $293 million exploit of Kelp’s bridge allowed attackers to use stolen rsETH, a liquid restaking token widely used in DeFi, as collateral to borrow funds on lending platforms, sparking concerns from the broader crypto market. The attacker stole about 116,500 rsETH, a token issued by Kelp DAO that represents "restaked" Ethereum by targeting a bridge built using LayerZero, a system that allows different blockchains to communicate. The total losses are estimated at roughly $293 million, making it the largest DeFi exploit of 2026. HOT Stories Ripple Veteran Slams DeFi Bridge Security Bullish XRP Wave Has Ended, Bitcoin's (BTC) Goodbye to $80,000, Shiba Inu (SHIB) Exchange Netflows Cross 10 Billion: Crypto Market Review The attack affected cross-chain infrastructure, restaking models and lending markets at the same time and follows a string of recent incidents. Advertisement You Might Also Like Sat, 04/11/2026 - 12:45 Ethereum Devs Signal Glamsterdam Devnet Launch Next Week as Upgrade Progresses By Tomiwabold Olajide The hack occurred in an unusually hostile stretch for DeFi — particularly this month. Solana-based perpetuals protocol Drift was drained of about $285 million in an April 1 attack, and at least a dozen smaller protocols have been exploited in the weeks since, including CoW Swap, Zerion, Rhea Finance and Silo Finance. Hack highlights larger goal for Ethereum In a recent tweet, Ethereum Foundation developer and researcher Barnabé Monnot states that the recent hacks serve as a reminder not only for Ethereum but for other crypto assets on the major goal ahead. He highlighted that the goal should be to make Ethereum not only the transport layer but also the issuer-of-record. Advertisement Hacks like these remind us that for many assets, the goal should be to make Ethereum not only the transport layer, but also the issuer-of-record. Validity proofs and fast finality are essential to remove latency across the board and compete with faster alternatives. — barnabe.eth (@barnabemonnot) April 20, 2026 Monnot noted that validity proofs and fast finality are essential to remove latency across the board and compete with faster alternatives, with Ethereum making steady progress toward this vision. You Might Also Like Sun, 04/19/2026 - 05:59 Massive $290 Million Hack Hits Ethereum and Arbitrum By Alex Dovbnya In the past year, Ethereum announced a renewed focus on three strategic initiatives: scale L1, scale blobs and improve UX. Faster confirmation times are consistently cited as among the biggest requirements for better interoperability across the Ethereum ecosystem. The current aim is to focus on clear, measurable protocol metrics to drive down latency and cost, while increasing security and trustlessness. #Ethereum News #Ethereum #Ethereum Foundation