WuBlockchain
On-chain analyst Specter reported that North Korean hackers moved approximately $38 million through Relay Protocol in seven hours, with transfers still ongoing when the post was published. Relay’s Know Your Transaction monitoring system did not block them, Specter said.
Why it matters
Relay is a cross-chain bridge that enables asset transfers across multiple blockchains. Specter said the hackers would have struggled to move a comparable amount through THORChain in the same timeframe, raising questions about Relay’s compliance and risk controls.
Market impact
The reported transfers put scrutiny on whether Relay’s KYT safeguards can detect and interrupt large, rapid cross-chain flows. The post did not specify whether Relay took further action.
Frequently asked questions
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How much did the hackers reportedly move through Relay Protocol?
On-chain analyst Specter reported that approximately $38 million was transferred through Relay Protocol.
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How long did the reported transfers take?
Specter said the transfers took place within seven hours and were still ongoing when the post was published.
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What is Relay Protocol used for?
Relay Protocol is a cross-chain bridge and interoperability protocol that enables asset transfers across multiple blockchains.
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Why did Relay’s KYT system draw scrutiny?
Specter said Relay’s Know Your Transaction monitoring system failed to block the transfers, raising questions about its compliance and risk controls.
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What comparison did Specter make with THORChain?
Specter said the hackers would have struggled to move a comparable amount through THORChain in the same timeframe.
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