Hacking News
North Korea Launder Binance Hack Through Fake Elon Coins
North Korean launderers are using homemade meme coins, including one with an Elon Musk logo, to launder part of the $6.4 billion Binance hack. Fitch Ratings, a rating agency, notes that bitcoin fell only about 6% after the hack, calling this resilience. Elliptic traced the scheme on NEAR, Tron, and Solana. The launderers pay stolen funds into a liquidity pool, buy the fake token, and sell it back to clean-looking assets, hiding nothing and making the funds traceable.