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eBTC is a collateralized crypto asset soft pegged to the price of Bitcoin and built on the Ethereum network. It is backed exclusively by Lido's stETH and powered by immutable smart contracts with minimized counterparty reliance. It is designed to be the most decentralized synthetic Bitcoin in DeFi and offers the ability for anyone in the world to borrow BTC at no cost.
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ether.fi: LayerZero Bridging Functionality for weETH and eETH to be Restored Within 24 Hours
Odaily News ether.fi posted on X platform stating that, following guidance from security partners, the LayerZero bridging functionality for weETH and eETH will be restored within the next 24 hours. ether.fi previously confirmed that its Liquid vault was not directly exposed to the Kelp rsETH incident risk, but as a precautionary measure, decided to suspend the LayerZero cross-chain bridging functionality for weETH and eETH until the root cause of the Kelp rsETH incident was clarified.Meanwhile, for the Liquid (ETH, BTC, USD), sETHFI, and eBTC products, the relevant Teller contracts have been suspended to block the LayerZero OFT bridging path. Deposit and withdrawal functions for the related assets have also been suspended accordingly. The team is currently working closely with security partners.
DeFi protocol Ether.fi suspends cross-chain transfers and deposits/withdrawals for weETH and eETH
DeFi protocol Ether.fi announced that, as the root cause of the Kelp rsETH incident remains under investigation, it has proactively paused LayerZero cross-chain transfers between weETH and eETH. Meanwhile, the Teller contracts for Liquid (ETH, BTC, USD), sETHFI, and eBTC have also been suspended to halt LayerZero OFT cross-chain functionality; deposits and withdrawals for these products are likewise suspended. Ether.fi stated that its Liquid Vaults are not directly exposed to Kelp rsETH and is closely coordinating with security partners; further updates will be provided in due course.