# Guardian Multisig - Transparency Reporting Thread

**URL:** <https://forum.summer.fi/t/guardian-multisig-transparency-reporting-thread/787>\
**Category:** Working Groups\
**Tags:** guardians, transparency-report\
**Created:** [March 23, 2026, 1:50pm UTC](https://forum.summer.fi/t/guardian-multisig-transparency-reporting-thread/787 "2026-03-23T13:50:33Z")\
**Posts on this page:** 1\
**Showing post:** 3

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**Author:** ![jensei](https://yyz1.discourse-cdn.com/flex009/user_avatar/forum.summer.fi/jensei/32/69_2.png) [@jensei](https://forum.summer.fi/u/jensei)\
**Post date:** [April 22, 2026, 11:24am UTC](https://forum.summer.fi/t/guardian-multisig-transparency-reporting-thread/787/3 "2026-04-22T11:24:38Z")

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### Activity Log

**Date:** `20-21/04/2026`

1. [14:32 CET] - @chrisb created Safe [**transaction**](https://app.safe.global/transactions/tx?safe=eth:0x91E4482CF58aC14d8DC25290d828b2A4D9492BA4&id=multisig_0x91E4482CF58aC14d8DC25290d828b2A4D9492BA4_0xd0bbe0e1974c7e6faa020604637197cc62ce4577861f217d66f7808cf202fca2) (set caps on 4 ETH and 4 USDC ARKs to `0` for ETH DMV) .
2. [14:38 CET] - @chrisb posted into Telegram DM Group.
3. [14:46 CET] - @chrisb posted into Signal DM Group.
4. [15:13 CET] - Safe transaction [**executed**](https://etherscan.io/address/0xE9c245293DAC615c11A5bF26FCec91C3617645E4).
5. [15:57 CET] - @chrisb created a second Safe [**transaction**](https://app.safe.global/transactions/tx?safe=eth:0x91E4482CF58aC14d8DC25290d828b2A4D9492BA4&id=multisig_0x91E4482CF58aC14d8DC25290d828b2A4D9492BA4_0xc97596f65700c01c4f22d44cffe6a4a5f746a5bb846c238b2ee7ac8359dfb37a) (pause deposits to ETH DMV).
6. [16:20 CET] - @chrisb posted into Telegram DM Group.
7. [16:21 CET] - @chrisb posted into Signal DM Group.
8. [16:39 CET] - Safe transaction [**executed**](https://etherscan.io/tx/0xf8d01eaf8aa7a0ebe6b56a69a22a8e203be2c32eec4d8345afec32daea7f1058).
9. [Overnight 20–21/04] - Keepers actively withdrew liquidity from affected markets as it became available.
10. [10:47 CET, 21/04] - @chrisb provided interim update on partial recovery (~33%) in Telegram DM Group.
11. [22:47 CET, 21/04] - @chrisb confirmed full exit from affected market and resolution in Telegram DM Group.

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### Background

Following the Kelp-related exploit over the weekend, an immediate precautionary response was taken across Lazy Summer DAO-Risk-Managed Vaults (DMV). Keeper operations were paused and all accessible liquidity was withdrawn from potentially affected markets back into the vault buffer.

After assessing exposure, a Safe transaction was proposed to set deposit caps to 0 across a set of markets deemed either directly affected or insufficiently liquid to justify continued allocation. This applied to both WETH and USDC DAO Managed Vaults.

A second transaction was subsequently proposed to pause deposits into the ETH DAO Managed Vault. At the time, ~17.22% of vault TVL was allocated to a Morpho SingularV market with indirect exposure to hgETH/rsETH. Based on available data and assumptions, estimated worst-case exposure was ~0.57% of vault TVL.

> Importantly, only deposits were paused, withdrawals and rebalancing remained active. This allowed the keeper system to continuously attempt withdrawals as liquidity became available, maximizing recovery.

Over the following ~24 hours, keepers successfully withdrew funds opportunistically, capturing 100% of available liquidity whenever it appeared. This resulted in a full exit from the affected market with no realized losses. Once the position was fully unwound, the situation was considered resolved, with a follow-up proposal to re-enable vault operations to be submitted.

* * *

### TIME TO RESPOND/EXECUTE 1ST TX BY THE GUARDIANS: `41 MIN.`

### TIME TO RESPOND/EXECUTE 2ND TX BY THE GUARDIANS: `42 MIN.`

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_[View the full topic](https://forum.summer.fi/t/guardian-multisig-transparency-reporting-thread/787)._