North Korea Uses Meme Coins to Launder Stolen Binance Funds
Blockchain analytics firm Elliptic reports that North Korean launderers created several meme tokens on the NEAR protocol to launder funds stolen from Binance.
Blockchain analytics provider Elliptic has revealed that North Korean operatives deployed six disposable meme tokens on the NEAR network between November 5 and 7. The operation utilized homemade liquidity pools to channel roughly $430,000 in stolen digital assets originating from a previous Binance hack.
This methodology highlights an evolving approach by threat actors utilizing decentralized finance infrastructure and custom tokens to obscure the movement of illicit digital asset funds.
Original report: Bitcoin Magazine ↗
AI-assisted summary based on the publisher's report. Read the original for full details. Not financial advice.