KelpDAO hackers have converted most of their ETH into BTC via THORChain cross-chain technology.

According to Odaily Planet Daily, based on monitoring by on-chain analyst Yu Jin, the KelpDAO hackers began laundering and transferring ETH yesterday afternoon, and have so far allegedly laundered 34,500 ETH (US$80 million). Most of this ETH was exchanged for BTC through THORChain's cross-chain transactions, resulting in significant "transit fees" for THORChain: THORChain's trading volume surged to US$360 million in the past 24 hours, compared to an average daily trading volume of only US$20 million previously. THORChain's platform fee revenue reached US$420,000 in the past 24 hours, compared to a daily fee revenue of only US$5,000 previously.