Kelp DAO Exploit Funds Nearly Fully Laundered
April 23, 2026 at 13:17
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✦ AI Summary
- $175 million in stolen Ether largely laundered
- $71 million still frozen by Arbitrum's security council
- THORchain used as a key laundering method
The recent exploit of the Kelp DAO has revealed a significant laundering operation. A wallet associated with the hack has successfully routed nearly all of the stolen Ether—valued at approximately $175 million—through a network involving THORchain.
Currently, around $71 million remains locked by the Arbitrum security council, highlighting ongoing efforts to recover some of the lost assets. This incident underscores the vulnerabilities within decentralized finance (DeFi) ecosystems and the increasing sophistication of crypto launderers.
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