Hacking News
North Korea Laundering Binance Hack Funds
North Korean hackers are using fake meme coins and decentralized exchange liquidity pools to launder stolen funds from the Binance hack. Elliptic, a blockchain analytics firm, identified this method, which involves creating tokens paired with legitimate cryptocurrencies to obscure the flow of stolen funds. Approximately $43.7 million of the $6.4 billion stolen from Binance remains unaccounted for due to the low cost of creating these tokens and complex transaction patterns.