The wallet behind the $292M Kelp DAO bridge exploit has laundered roughly $80M in stolen ETH, with the bulk funneled through THORChain and swapped into BTC. THORChain's non-custodial, no-KYC swap rails make it the preferred venue for cross-chain cleanup — smaller flows have also hit Umbra, Chainflip, and BitTorrent. LayerZero has pinned the original hack on North Korea's Lazarus Group, an attribution Kelp DAO disputes by blaming LayerZero's default bridge settings.

TLDR by @Benthic