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Coinpedia
April 23, 2026 11:15 AM UTC

KelpDAO Hacker Converts $175M in ETH to Bitcoin

KelpDAO Hacker Converts $175M in ETH to Bitcoin

The post KelpDAO Hacker Converts $175M in ETH to Bitcoin appeared first on Coinpedia Fintech News Following the KelpDAO exploit, the attacker rapidly moved 75,700 ETH, worth about $175 million, and converted nearly all of it into Bitcoin within roughly 36 hours. The swaps were mainly executed through THORChain, a cross-chain protocol that allows direct ETH-to-BTC conversions without intermediaries. The massive transactions pushed THORChain’s volume to around $800 million and generated …

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