The KelpDAO hacker has successfully converted 75,700 ETH, valued at $175 million, into Bitcoin over a span of one and a half days. This conversion was primarily executed using the THORChain protocol, a decentralized cross-chain swapping platform. The transactions resulted in a significant trading volume of $800 million and generated $910,000 in platform fees for THORChain.
KelpDAO Hacker Converts 75,700 ETH to BTC via THORChain
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