KelpDAO hackers are laundering millions in stolen crypto, data show
Analysis
Price Impact
HighThe kelpdao exploit involves $290 million in stolen crypto, with hackers actively laundering these funds. this large-scale exploit in the defi space creates significant fear of contagion, potentially impacting other protocols and leading to widespread liquidations. the freezing of $71 million in ether by arbitrum adds to the pressure, suggesting a potential acceleration of laundering efforts and increased market volatility.
Trustworthiness
HighPrice Direction
BearishThe immediate aftermath of a major defi exploit and ongoing laundering efforts typically leads to negative market sentiment. fears of contagion can cause a sell-off across the broader defi ecosystem, as investors become risk-averse. the large sum being laundered and the use of sophisticated techniques by suspected state-sponsored hackers (like lazarus group) heighten these concerns.
Time Effect
ShortThe news is very recent, with transactions and analysis occurring on 'tuesday' and reported as of 'apr 21, 2026'. the immediate impact on the market is likely to be felt in the short term as the laundering process unfolds and contagion fears play out.
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Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email KelpDAO hackers are laundering millions in stolen crypto, data show KelpDAO hackers are moving $290M in stolen crypto across blockchains, using privacy tools to mask the trail as DeFi contagion fears move through the sector. By Oliver Knight | Edited by Omkar Godbole Apr 21, 2026, 9:12 a.m. Make preferred on KelpDAO hackers launder millions in stolen crypto (Frank van Hulst/Unsplash+/Modified by CoinDesk) What to know : Hackers are laundering $290 million in stolen crypto by moving large sums across the Ethereum and Bitcoin blockchains. Blockchain investigators have tracked the funds through privacy tools and cross-chain bridges often favored by state-sponsored groups. The breach has triggered widespread liquidations across the decentralized finance sector amid fears that the exploit could impact other protocols. The hackers that stole $290 million in the KelpDAO exploit are beginning to launder their ill-gotten gains, according to onchain sleuth ZachXBT and data from Arkham . Arkham shows that the wallet in control of the proceeds of the exploit sent two transfers of $117 million and $58 million on the Ethereum blockchain during European hours on Tuesday. ZachXBT reported that a portion of the stolen funds has already begun moving across chains. Roughly $1.5 million was bridged from Ethereum to Bitcoin via Thorchain, alongside an additional $78,000 routed through the privacy protocol Umbra. North Korean hackers Lazarus Group have previously used protocols like Thorchain to launder funds. Cross-chain routing and privacy tools are commonly used in the early ‘layering’ stage of laundering, suggesting the attacker may be preparing to further disperse the funds across multiple venues. The KelpDAO exploit is one of the largest decentralized finance breaches in recent months, spurring a wave of negative sentiment across the DeFi sector and fears over contagion will spread to other blockchains. Layer 2 network Arbitrum said Monday it had frozen $71 million in ether linked to the hack, a move that could pressure the exploiter to accelerate efforts to move and launder the remaining funds. Hack DeFi Higit pang Para sa Iyo A dozen banks want a euro stablecoin. Fireblocks is making it happen Ni Ian Allison | Edited by Omkar Godbole 1 oras ang nakalipas The Qivalis consortium is made up of: Banca Sella, BBVA, BNP Paribas, CaixaBank, Danske Bank, DekaBank, DZ BANK, ING, KBC, Raiffeisen Bank International, SEB, and UniCredit. Ano ang dapat malaman : The euro-backed token is scheduled for release in the second half of 2026. Amsterdam-based Qivalis is regulated by the Dutch Central Bank. Basahin ang buong kwento Latest Crypto News A dozen banks want a euro stablecoin. Fireblocks is making it happen 1 hour ago Arbitrum freezes $71 million in ether tied to Kelp DAO exploit 3 hours ago Bitcoin reclaims $75,000 as Iran ceasefire talks advance, equities rally resumes 3 hours ago Ripple wants the XRP Ledger to be quantum-proof by 2028. Here is its plan 3 hours ago North Korea’s crypto heist playbook is expanding and DeFi keeps getting hit 11 hours ago Aave could face up to $230 million in losses after Kelp DAO bridge exploit triggers DeFi chaos 12 hours ago Top Stories Kelp DAO claims LayerZero’s 'default' settings are what actually caused the massive $290 million disaster 18 hours ago Coinbase, Bybit said to be working together on tokenization, custody and distribution of U.S. stocks 19 hours ago Strategy buys 34,164 bitcoin for $2.54 billion, third-largest purchase on record 21 hours ago Here's how bitcoin's $7.9 billion April options expiry impact prices 23 hours ago LayerZero blames Kelp's setup for $290 million exploit, attributes it to North Korea's Lazarus Apr 20, 2026