KelpDAO Hackers Move Millions Into Bitcoin

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Hackers behind the KelpDAO breach have started moving stolen assets into Bitcoin, using THORChain to convert funds and dramatically increase the network’s activity. One attacker wallet sent funds through THORChain, pushing daily transaction volume to about $211 million, nearly 10× the 30-day average. Around 442 BTC ($33 million) is now spread across more than 400 different Bitcoin addresses, with some of the laundered coins mixed with funds tied to previous North Korea-linked hacks, highlighting ongoing challenges in tracing and recovering stolen crypto.