Recovery hopes fade as Kelp DAO hacker launders nearly all $220M in stolen funds
60-second summary
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.
The Kelp DAO exploiter laundered about $220 million worth of remaining stolen funds in a bid to make them untraceable, excluding the $71 million frozen by Arbitrum’s Security Council.