Recovery hopes fade as Kelp DAO hacker launders nearly all $220M in stolen funds

The Kelp DAO exploiter is laundering nearly all $220 million in stolen funds, excluding the $71 million frozen by Arbitrum's Security Council, making the remaining sum untraceable. This significant money laundering operation raises concerns about the effectiveness of current security measures and the exploiter's ability to evade detection, potentially undermining investor trust in the decentralized finance (DeFi) ecosystem.