Kelp DAO Hacker Moves $175M in ETH to New Wallets

[tradelikepro]

The attacker behind the massive exploit on Kelp DAO has begun actively moving stolen funds, signaling the start of a laundering phase. On Tuesday, roughly 75,700 Ether (worth about $175 million) was transferred across multiple newly created wallets in a series of transactions designed to fragment the funds and make tracking more difficult.

Blockchain investigator ZachXBT noted that some of the funds are already being routed through privacy-focused and cross-chain tools like THORChain and Umbra. These platforms allow users to move assets without traditional identity checks, making recovery significantly harder for affected projects and authorities.

[madtrader]

tracking insights from ZachXBT are valuable but recovery chances typically drop sharply once funds pass through multiple privacy layers