KelpDAO hacker swaps nearly 75,700 ETH into BTC in $175M conversion spree

The hacker behind the KelpDAO incident has converted almost its entire 75,700 ETH position into Bitcoin, according to EmberCN. The holdings were valued at about $175 million when the swaps took place. The transactions were carried out within roughly a 36-hour period, with most flows routed through THORChain infrastructure.