Kelpdao Hacker Moves Massive Funds Amid Investigation

The hacker behind the KelpDAO exploit has moved more than $175 million to new Ethereum $ETH addresses, according to on-chain intelligence firm Arkham. The transfers point to active reshuffling of stolen funds as scrutiny of the incident intensifies.

On-chain investigator @ZachXBT has also reported that laundering of the exploited funds is already underway. Around $1.5 million has been bridged to Bitcoin $BTC through Thorchain, a decentralised cross-chain liquidity protocol, while additional funds have been routed through Umbra, a privacy-focused transfer tool, in what appears to be a deliberate effort to obscure the money trail.

The speed and scale of the movements will likely complicate recovery efforts. The use of cross-chain bridges and privacy tools to layer and disperse stolen crypto assets has become a common tactic among sophisticated attackers, making tracing and freezing funds increasingly difficult for investigators.