Kelp DAO Hacker Launders $220 Million in Six Weeks

According to NS3.AI, Arkham data and onchain analysts report that the Kelp DAO hacker has laundered approximately $220 million of unfrozen stolen funds over a six-week period. The attacker initially drained 116,500 Kelp DAO restaked ETH on April 18, resulting in a $293 million exploit. In response, Arbitrum's Security Council froze an additional $71 million on April 21 as part of the rsETH recovery effort. A hearing in New York regarding ownership claims related to the frozen funds is scheduled for Friday.