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Specter Says DPRK Bridged $38 Million Through RelayProtocol in Seven Hours and Is Still Moving Funds
On-chain investigator Specter said DPRK bridged $38 million through RelayProtocol Bridge in seven hours and was still moving funds. Specter said Relay's claimed KYT system, a transaction-monitoring tool, had not stopped the transfers.
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What happened
On-chain investigator Specter said DPRK bridged $38 million through RelayProtocol Bridge in seven hours and was still moving funds. Specter said Relay's claimed KYT system, a transaction-monitoring tool, had not stopped the transfers.
Confirmed
Global impact / market context
If a bridge that says it screens transactions lets $38 million pass in hours, users of that service face reputational and regulatory risk, and other bridges may face tougher scrutiny from regulators and partners.
Analyst inference
Bridges are common routes for moving crypto between chains, so weak monitoring at one bridge can expose counterparties and push investors to demand clearer screening promises before trusting similar services.
Analyst inference
What to watch
- Specter said DPRK could not launder the funds through THORChain, a cross-chain swap service, in such a short time. Confirmed
- Watch whether RelayProtocol publicly answers Specter's claim that its KYT screening failed and whether it changes its monitoring rules. Proposed
- Watch for tighter screening demands from regulators and partners on crypto bridges, which could raise compliance costs and slow transfers. Analyst inference