Hacking News
Elliptic Tracks North Korea’s Meme Coin Laundering
Blockchain analytics firm Elliptic has identified North Korean hackers using six newly launched meme coins on the NEAR blockchain to launder proceeds from the $6.3 billion Binance hack. The operation involved creating worthless tokens and pairing them with NEAR in liquidity pools, with stolen cryptocurrency then purchased and sold back to recover the underlying NEAR. Elliptic traced around 117,000 NEAR tokens worth $430,000 through the six meme coins.