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Relay Protocol Disrupts Routes to Block Stolen Binance Hack Funds
(2 hours ago) · 1 source · Summarized by CryptoBipto
Relay, a cross-chain bridging protocol, has reported disruptions to its routing services as part of efforts to block the movement of funds stolen in a Binance hack. The protocol intervened to prevent hackers from using its infrastructure to launder or transfer the stolen cryptocurrency across blockchains.
WHY IT MATTERS
When hackers steal cryptocurrency, they often try to move it through multiple blockchain networks to hide where it came from — similar to how a thief might pass stolen cash through several bank accounts in different countries.
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SOURCES
- thedefiant.io
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BNBCross-Chain BridgesCrypto HacksFund RecoveryBinance SecurityDeFi Infrastructure