Hacker "rebalances" $175 million in 48 hours! ETH quickly swapped for BTC, on-chain funds undergoing major migration

On-chain data shows that the hacker involved in the KelpDAO incident has, in just a day and a half, exchanged nearly all of 75,700 ETH (about $175 million) into BTC.
From the transaction paths, these funds were mainly exchanged across chains via THORChain. Due to the large transaction scale, this series of operations also directly brought approximately $800 million in trading volume to THORChain, while generating about $910k in platform fee income.
From a fund behavior perspective, such large-scale asset conversions often indicate that hackers are quickly reducing tracking risks and diversifying their asset structure. The existence of cross-chain protocols also makes asset flow between different chains more efficient.
This incident once again highlights a reality:
In the crypto world, technology not only creates opportunities but also amplifies efficiency. Whether it's trading, arbitrage, or asset transfers, speed often determines everything.
The market has never lacked stories, but those who can sustain long-term success rely not on luck but on understanding.
When others only see price fluctuations, if you can understand the flow of funds, the opportunity has often already appeared in advance. 🚀