North Korean hackers create memecoins to launder funds from Binance hack: Elliptic

What happened: Elliptic reported that North Korean hackers created at least six memecoins on the NEAR blockchain to launder funds stolen in the $6.4 billion Binance hack, using liquidity pools to move funds between wallets. Key numbers: About $430,000 routed through six tokens; tokens created Nov. Why it matters: Elliptic said the same technique followed the Bybit hack, and co-founder Tom Robinson wrote that launderers layer many cheap techniques rather than relying on a single one. Coverage: 3 outlets in 24h

Elliptic reported that North Korean hackers created at least six memecoins on the NEAR blockchain to launder funds stolen in the $6.4 billion Binance hack, using liquidity pools to move funds between wallets.

Elliptic said the same technique followed the Bybit hack, and co-founder Tom Robinson wrote that launderers layer many cheap techniques rather than relying on a single one.