Ethereum
Why Ethereum is down 3.4% today
Analysis
Ethereum (ETH) fell 3.4% over the past 24 hours amid negative sentiment tied to security headlines. AMBCrypto and The Block reported that the KelpDAO exploiter laundered a large amount of stolen ETH—around $80 million—mostly via THORChain, keeping hack-related supply and risk concerns in focus.
Contributing Factors (3)
KelpDAO hacker launders ETH via THORChain – Network says it is ‘neutral’
The attacker moved stolen funds after Arbitrum froze $71 million in ETH, raising concerns about the reliability of DeFi.
Coinbase Flags Proof-of-Stake Chains Like Ethereum, Solana as Potential Quantum Risks
Advisory council says validator signatures and wallet cryptography could be vulnerable if future quantum computers break current encryption.
Kelp DAO exploiter launders $80 million worth of ETH, mostly through THORChain: onchain analyst
The 24-hour swap volume on THORChain surged to $394 million, significantly exceeding usual daily volumes of under $35 million.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.