According to chain analyst Yujin, the KelpDAO hacker converted 75,700 ETH into BTC via THORChain within a day and a half, generating approximately $800 million in trading volume and $910,000 in fee revenue for THORChain.
KelpDAO hacker converts 75,700 ETH to BTC via THORChain
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Summary
A hacker linked to the KelpDAO exploit converted 75,700 ETH to BTC via THORChain over one and a half days. The trade generated $800 million in volume, prompting notable movement in the BTC price. THORChain earned $910,000 in fees, according to on-chain analyst Yujin. The transaction underscores THORChain’s growing role among altcoins to watch in cross-chain activity.
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