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Kelp DAO Exploiter Launders $80 Million in ETH Through THORChain

According to an onchain analyst, most of the Ether linked to the Kelp DAO exploit was moved through THORChain (cross-chain liquidity protocol).

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Terms & Concepts
  • THORChain: A cross-chain liquidity protocol that lets users swap assets across different blockchains without relying on a centralized exchange.
  • Onchain analyst: A researcher who tracks blockchain transactions and wallet activity using publicly visible ledger data.
  • ETH: The native cryptocurrency of the Ethereum blockchain, commonly used for transactions, fees, and smart contract activity.