Kelp DAO bridge exploiter launders nearly all of the $220 million in stolen funds as recovery window closes
first published 2026-06-02T07:40:15Z
On-chain data shows the Kelp DAO bridge exploiter has moved almost all of the roughly $220 million in unfrozen stolen funds through privacy services including THORChain, Wasabi, Tornado Cash and Umbra, leaving about $1.7 million in the original wallets. The attack has been linked to North Korea-associated TraderTraitor/UNC4899, while about $71 million remains frozen on Arbitrum and is still the main recovery target amid pending legal claims.
AI Analysis
The summary describes a large-scale bridge exploit, extensive laundering through privacy channels, and only a limited frozen amount remaining for recovery. These are directly negative facts for the affected protocol and indicate a significant security event.
Expected Investor Sentiment: Very Bearish
Potential Market Impact: Significant
