#KelpDAO Hack Update: Rapid Moves & Emergency Response
📊 In the past few hours, the situation has escalated fast — the attacker has moved the full stolen amount (75,701 ETH ≈ $175M) and converted it into $BTC .
💰 The hacker used THORChain and complex routing paths to swap funds and escape liquidity across the Bitcoin network.
🏗️ Ecosystem Response Begins
• Mantle proposed a 30,000 ETH loan (~$70M) to support Aave, aiming to stabilize liquidity and prevent cascading risks.
• Lido community suggested a one-time donation of 2,500 stETH (~$5.8M) to help cover losses and protect affected users.
📈 What’s happening now:
• Hacker is actively trying to obfuscate fund movements
• Major DeFi players are stepping in to contain damage
• Focus is on liquidity support + user protection
🚨 Market Insight:
This situation highlights both sides of crypto:
⚠️ Risks of exploits and cross-chain laundering
✅ Strength of ecosystem collaboration during crises
#KelpDAO #