Kelp DAO Hacker Launders $220M in Stolen Crypto; Only $1.7M Remains Traceable

According to blockchain monitoring data, nearly all $220 million in unfrozen assets stolen from Kelp DAO during an April 18 exploit have been successfully laundered, leaving only $1.7 million traceable. Analysts said the attacker used a layered strategy, bridging assets into Bitcoin via Wasabi mixing service before returning to Ethereum and processing through Tornado Cash, significantly reducing recovery prospects.

Approximately $71 million remains frozen pending legal proceedings and court rulings on ownership claims in New York.