Daily revenue for some of the platforms rose as high as 2,229% as the Binance hacker laundered part of the stolen funds through them.
ByWayne Jones
Several DeFi protocols seem to have benefited from North Korean hackers moving hundreds of millions of dollars’ worth of crypto they stole from Binance on October 30.
On-chain investigations suggest that the laundering operation generated more than $100,000 in protocol revenue per day for five services.
THORChain, Relay and SunSwap Among Biggest Beneficiaries
Blockchain investigator dethective, on November 2, posted
Blockchain investigator dethective, on November 2, posted a breakdown of protocol revenues linked to wallets associated with the Democratic People’s Republic of Korea (DPRK), with SunSwap, THORChain, Relay, Symbiosis, and Chainflip making the most money.
Per the data, SunSwap generated $29,697 attributed to the hacker, while THORChain, in second place, earned $28,184. On its part, Relay earned slightly more than $23,000, while Symbiosis made just over half of that. Chainflip wrapped up the top five, collecting $7,433 to bring the total for them to $101,144.
The increase in revenue was most pronounced at THORChain and Relay, whose daily revenues went up 2,229% and 1,954%, respectively, compared with typical October levels. SunSwap recorded an 815% jump, while Symbiosis and Chainflip posted gains of 358% and 194%.
According to dethective, the figures are based
According to dethective, the figures are based on Elliptic and FBI hack lists, as well as some additional wallets that had been traced on-chain. They also counted every Tron transfer between October 29 and November 1, with revenue calculated using DeFiLlama’s definition of what each protocol remains with.
However, the investigator pointed out that they had left out one possible entry since they weren’t 100% certain of their link to the Binance attacker: a router contract named BWSwapRouterV1, which may have collected approximately $175,000 across 3,561 swaps that involved about $58 million.
