{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,8,14]],"date-time":"2026-08-14T15:32:59Z","timestamp":1786721579350,"version":"build-2736575974"},"posted":{"date-parts":[[2026]]},"group-title":"SSRN","reference-count":0,"publisher":"Elsevier BV","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"abstract":"<jats:p>On April 18, 2026, attackers drained 116,500 rsETH (~$292M, 18% of supply) from KelpDAO's LayerZero bridge by forging a cross-chain message under a 1-of-1 verifier configuration. I test whether the resulting depeg in rsETH spread to other liquid restaking and liquid staking tokens that share LayerZero's Omnichain Fungible Token bridge infrastructure. Using a pre-registered difference-indifferences design on daily prices for nine LRT\/LST tokens over February 3 to May 3, 2026, I find a large idiosyncratic depeg in rsETH (+781 bps post-event, t = 212) but no statistically significant differential effect on LayerZero-bridged peers relative to non-LayerZero controls (-9.6 bps, t =-1.41). Four pre-committed robustness specifications, including volatility, asymmetric response to ETH stress, a tight event window, and signed wedge, all return null at a Bonferroniadjusted threshold. The result is consistent with market participants treating the event as a Kelpspecific failure rather than a LayerZero-wide bridge-protocol shock, even as protocol operators (Ethena, ether.fi) treated it as bridge-specific by precautionary pauses of their own LayerZero bridges. The divergence between operator caution and market pricing is itself the finding.<\/jats:p>","DOI":"10.2139\/ssrn.6699478","type":"posted-content","created":{"date-parts":[[2026,5,3]],"date-time":"2026-05-03T09:07:25Z","timestamp":1777799245000},"source":"Crossref","is-referenced-by-count":0,"title":["Bridge-Confidence Contagion in Liquid Restaking: A Pre-Registered Null Around the April 2026 KelpDAO Exploit"],"prefix":"10.2139","author":[{"ORCID":"https:\/\/orcid.org\/0009-0005-8477-9393","authenticated-orcid":true,"given":"Boon Chuan","family":"Lim","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"78","container-title":[],"original-title":[],"deposited":{"date-parts":[[2026,8,14]],"date-time":"2026-08-14T14:51:46Z","timestamp":1786719106000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.ssrn.com\/abstract=6699478"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2026]]},"references-count":0,"URL":"https:\/\/doi.org\/10.2139\/ssrn.6699478","relation":{},"subject":[],"published":{"date-parts":[[2026]]},"subtype":"preprint"}}