Binance Hackers Use Meme Tokens to Obfuscate Stolen Funds
Hackers linked to a Binance exploit are creating custom meme coins and utilizing liquidity pools to launder stolen cryptocurrency.
According to blockchain analytics firm Elliptic, perpetrators behind a Binance hack are attempting to obscure the trail of stolen cryptocurrency. The bad actors are minting custom, low-value tokens featuring cartoon animal and Elon Musk themes. These newly created assets are then used to route illicit funds through various liquidity pools in an effort to break the transaction trail.
Original report: Decrypt ↗
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