Kelp DAO Hacker Has Laundered Nearly All $220M in Unfrozen Funds, Closing the Recovery Window

The cross-chain lender that once held more than $300M in deposits now has $2.21M in total value locked, a sub-$2M market cap, and no remaining major-exchange listing — the slow end-state of an October 2024 exploit Mandiant traced to North Korea.

A whitehat developer helped return funds from HongCoin's failed 2016 token sale after a bug left investor refunds frozen for nine years.

A security startup says it disclosed a fund-draining vulnerability to the cross-chain protocol weeks before a $10.7M exploit hit a near-identical flaw. Now it plans to publish exploit code for more.

The Kelp DAO exploiter laundered about $220 million worth of remaining stolen funds in a bid to make them untraceable, excluding the $71 million frozen by Arbitrum’s Security Council.

The post Crypto Hack Losses Drop 90% in May After Brutal April appeared on BitcoinEthereumNews.com. The largest incidents involved Verus Protocol and THORChain, which lost $11.5 million and $10.1 million, respectively. Code vulnerabilities accounted for roughly two-thirds of all losses, while compromised wallets and private keys were the second-largest cause. Cross-chain bridges were the most targeted sector, responsible for 42% of total losses. Crypto Exploit Losses Drop Losses from crypto-related exploits and security breaches dropped quite a bit in May 2026. According to blockchain security firm CertiK, total losses from crypto platform exploits reached approximately $68.3 million during the month, which was an almost 90% drop compared to the $650 million that was lost in April. The sharp decrease makes May the third month of 2026 in which crypto-related losses stayed below the $100 million mark. CertiK also reported that around $9.4 million of the stolen funds were eventually recov

The post Crypto hack losses drop 90% to $68.3M in May, CertiK says appeared on BitcoinEthereumNews.com. CertiK has reported that crypto losses from hacks and exploits have fallen to $68.3 million in May, nearly 90% lower than the roughly $650 million stolen in April. Summary Crypto losses fell to $68.3 million in May, nearly 90% lower than the roughly $650 million recorded in April, according to CertiK. Verus Protocol and THORChain suffered the two largest exploits of the month, with combined losses exceeding $21 million. CertiK reported a rise in AI-assisted malware activity as attackers targeted code repositories and AI coding tools. According to blockchain security firm CertiK, May became the third month of 2026 to record less than $100 million in crypto-related losses after attackers stole $68.3 million through exploits, scams, and security breaches. #CertiKStatsAlert 🚨 Combining all the incidents in May we’ve confirmed ~$68.3M lost to exploits with~$2.6M of the total attributed t

CertiK has reported that crypto losses from hacks and exploits have fallen to $68.3 million in May, nearly 90% lower than the roughly $650 million stolen in April. According to blockchain security firm CertiK, May became the third month of…

The post Fake Bridge Messages Let Hacker Drain $815,000 From Alephium appeared on BitcoinEthereumNews.com. Alephium’s (ALPH) TokenBridge was drained of approximately $815,000 after an attacker exploited a flaw that allowed forged messages to pass through the protocol’s guardian network and authorize fraudulent token transfers. The Alephium team confirmed that blockchain security firm Blockaid was the first to detect the exploit. The Security Alliance’s SEAL_911 emergency response unit also provided assistance and responsiveness throughout the subsequent investigation. Exploit Drains $815,000 in Under 7 Minutes The attacker moved funds from the Alephium TokenBridge on both Ethereum and BNB Chain in roughly seven minutes. On Ethereum, losses included 200,967 Tether (USDT), 17,594 USD Coin (USDC), 5.18 Wrapped Ether (WETH), and 0.335 Wrapped Bitcoin (WBTC). An additional 36,750 USDT and 24.386 Wrapped BNB were removed from the BNB Chain side of the bridge. The attacker also minted 13.76 m