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TechFlow news: On April 23, blockchain analyst Yu Jin (@EmberCN) reported that the KelpDAO hacker—over approximately one and a half days—converted nearly all 75,700 ETH (approximately $175 million) stolen from Ethereum into BTC, primarily via the cross-chain protocol THORChain. This money-laundering activity generated roughly $800 million in trading volume and $910,000 in platform fees for THORChain.
According to on-chain analyst Yujin (@EmberCN), the KelpDAO hacker, over a period of approximately one and a half days, has converted nearly all 75,700 ETH (valued at roughly $175 million) on Ethereum into BTC—primarily via the cross-chain protocol THORChain. This money-laundering activity generated approximately $800 million in trading volume and $910,000 in platform fees for THORChain.
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