Kelp DAO Hackers Move $175M in Stolen ETH

The Kelp DAO exploit continues to unfold as hackers move $175 million in stolen ETH. On Tuesday, on-chain investigators identified transfers totaling around 75,700 ETH worth approximately $175 million.

Funds began flowing through THORChain and privacy protocol Umbra shortly after Arbitrum froze a portion of the stolen assets. Blockchain investigator ZachXBT reported three THORChain transactions totaling about $1.5 million and a separate transfer of roughly $78,000 through Umbra.

The movement of funds comes hours after Arbitrum's 12-member Security Council took emergency action to freeze 30,766 connected to the attack. The funds were moved into an intermediary wallet that can only be accessed through Arbitrum governance.