Kelp DAO Hacker Launders $80M via THORchain, Activity Spikes

• Kelp DAO attacker laundered around $80M after moving $175M in ETH earlier this week.
• Most stolen ETH was swapped into BTC through THORChain, pushing 24-hour volume to $394M.
• Arbitrum froze 30,766 ETH worth about $70.9 million tied to attacker-linked wallets.

The attacker behind the Kelp DAO exploit has laundered about $80 million in stolen funds after moving roughly $175 million worth of ETH earlier this week.

According to onchain data, the exploiter moved 34,500 ETH after diverting funds off Ethereum on Tuesday. Most of that ETH was then swapped into Bitcoin through THORChain.

The Kelp DAO exploit drained around $290 million to $292 million through the project’s LayerZero-powered cross-chain bridge.

THORChain Volume Jumps Far Above Normal

The laundering flow pushed THORChain activity higher. THORChain’s dashboard showed $394 million in swap volume ove…

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