KelpDAO Attacker Launders 75,700 ETH Into Bitcoin in Day-and-a-Half Sprint

The KelpDAO hacker has rapidly laundered approximately 75,700 ETH, valued at around $175 million, into Bitcoin over a period of about 1.5 days. This accelerated activity followed the freezing of some of the hacker's ETH on Arbitrum by its Security Council. The attacker primarily utilized THORChain for cross-chain swaps to convert ETH to BTC, generating significant trading volume and fees for the platform. The hacker had previously faced a setback when losing access to ETH held on Arbitrum and had made some small transfers through Umbra Cash, a privacy protocol whose frontend has since been taken offline for maintenance. The fallout from the KelpDAO exploit has also impacted the broader DeFi space, with Aave experiencing a substantial drop in its total deposit volume.

(Source：BeInCrypto)