North Korean Hackers Use Memecoins to Launder Funds From…
By Karthik Subramanian
AI summary of the source article
North Korean hackers responsible for the $6.43 billion Binance theft created six memecoins on the NEAR blockchain to launder $430,000 in stolen tokens, Elliptic revealed. Approximately $2.85 billion of the stolen funds have been frozen or seized.
Why it matters
Investigators say "the technique demonstrates how attackers can exploit decentralized trading infrastructure to complicate transaction tracing."
Key facts
- Elliptic reported that North Korean hackers moved 117,000 NEAR tokens worth $430,000 through six newly created memecoins to disguise transactions.
- The FBI attributed the $6.43 billion Binance attack to North Korea's TraderTraitor hacking group.
- Investigators found that approximately $2.85 billion of the stolen cryptocurrency has been frozen or seized across 16 blockchains.
Source excerpt · FinanceFeeds
North Korean hackers responsible for the October 29 Binance cryptocurrency theft have begun creating memecoins to launder stolen assets, using decentralized exchange liquidity pools to disguise transactions as legitimate trading activity. Blockchain analytics firm Elliptic revealed on November 9, 2026, that approximately 117,000 NEAR tokens, valued at $430,000, had moved through six newly created…