According to on-chain analyst Yu Jin, the KelpDAO hacker began laundering and transferring ETH yesterday afternoon, and by now should have laundered 34,500 ETH (worth $80 million).
Most of this ETH was cross-chain swapped into BTC via THORChain, which consequently earned a significant amount in "toll fees":
1. THORChain's trading volume surged to $360 million over the past 24 hours, compared to an average daily volume of only $20 million previously.
2. THORChain's platform fee revenue reached $420,000 over the past 24 hours, whereas its daily fee income was only $5,000 before.
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KelpDAO Hacker Has Cross-Chained Most ETH to BTC via THORChain
21/04/2026 20:47
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