The KelpDAO hacker has swapped nearly all of its 75,700 ETH holdings, worth about $175 million, into BTC over roughly a day and a half. The cross-chain swaps were primarily routed through THORChain. Due to the sheer size of the transactions, the laundering activity also generated about $800 million in volume and roughly $910,000 in platform fee revenue for THORChain. Source: https://x.com/EmberCN/status/20471168529…

The past few days have been intense, but I wanted to give some updates as we continue to work on this. Our priority is our users, and every decision we are making is aimed at an orderly return to normal market conditions and the best possible outcome for everyone involved. Working around the clock, the team has made progress on multiple paths forward with several partners. The Arbitrum Security Council also recovered $70 million in ETH, which could meaningfully reduce the potential exposure, and multiple discussions and solutions are being considered. I am confident we will move towards a strong resolution. Reviewing what happened and learning from it matters. But pointing fingers is not something that gets us to the other side of this. Every bit of my energy right now is focused on the outcome for Aave users and the protocol. Aave has been my life's work, and this is an important moment for DeFi as much as it is for Aave. I am deeply grateful for the support and collaboration we have received from builders and partners across the industry. We’ll get through this together and we’ll continue to publish updates on @aave as they happen.

Nouns DAO has been captured. @GlitterProtocol founder @0xdusk_eth and anon conspirators like @0xjanedoe2008 @makenounsgreatagain have finally fully taken over @nounsdao After not voting on props for months (which has made it nearly impossible to pass proposals), they've collected enough votes to make decisions for the DAO as a small group and have all come out to vote over a new reserve auction price for Nouns at 4x higher than our daily auction. This act will likely halt income, burn daily Nouns, prevent new buyers/voters, and help them maintain a "book value" through not passing proposals and not diluting their past buys more. IMO this is a sad day for Nouns and I don't think there is much coming back from a move like this. Although we may have been doomed anyways from their lack of vision and ideas to actually make Nouns better besides staking eth with their friends at @mETHProtocol 🫠 cc @zachxbt

Wanna move out of your staked Eth positions from aave? Just use Bungee.

the negative and positive things that have happened since saturday are the result of _centralised_ points of building. everything that has happened (the bad and good things) would not have happened if we built in a truly decentralised way. overall, dprk would have far fewer "gains" if we stuck to cypherpunk principles. like, dprk does _not_ focus on smart contract hacks, they almost exclusively target centralised attack vectors. if we want to win against dprk (and any other state actor, which all focus on web2-based attack vectors), we need to go full cypherpunk mode. if this is not a wake up call, i do not think we will get a second chance.

Update on rsETH incident: rsETH reserves have been paused across Ethereum Core, Arbitrum, Base, Mantle, and Linea. This was done with the objective of recovering additional funds as the recovery plans progress. We will keep the community updated on the next steps as the efforts continue.