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Binance Hack Launderers Mint Elon Musk and Animal Meme Coins to Move Stolen Crypto

Publisher
Decrypt (News media)
Original
https://decrypt.co/382873/binance-hack-elon-musk-animal-meme-coins-launder-stolen-crypto
Published
First seen
Last captured
Watched for edits
No

Capture history

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Captured (UTC)Fetched viaHTTPRaw sha256Text sha256Text changed
firecrawl-web08200f3ed7ba8e2e57f9bd855719ca1f6c9906f7c04ff22ab75cc286226dbb36933c889a0ad430293fa63bbc9d7504151ffc560fc1dfe518b37c5a213df34cc3f831aNo

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Claims quoted from this source

Reportedroot causeStatement 1862

Elliptic found that North Korea's launderers are creating home-made meme coins and swapping stolen Binance funds through decentralized-exchange liquidity pools so no funds move directly between thief and recipient wallets.

North Korea’s launderers are creating home-made meme coins and swapping stolen Binance funds through decentralized-exchange liquidity pools so no funds move directly between thief and recipient wallets, Elliptic found.

Speaker
Elliptic
Publisher
Decrypt (News media)
Original
Binance Hack Launderers Mint Elon Musk and Animal Meme Coins to Move Stolen Crypto
Captured
Stored copy
sha256 f3ed7ba8e2e5
Published
Reportedroot causeStatement 1866

Decrypt reported that each token cost about 25 Near tokens, roughly $90, to create, and that all six followed the same arc: launched, traded heavily within hours using stolen NEAR, then abandoned, with the leftover liquidity pulled on Nov. 8.

Each token cost about 25 Near tokens, roughly $90, to create. All six followed the same arc: launched, traded heavily within hours using stolen NEAR, then abandoned, with the leftover liquidity pulled on Nov. 8.

Speaker
Not recorded
Publisher
Decrypt (News media)
Original
Binance Hack Launderers Mint Elon Musk and Animal Meme Coins to Move Stolen Crypto
Captured
Stored copy
sha256 f3ed7ba8e2e5
Published
ReportedrecoveryStatement 1868

Elliptic stressed that the meme-coin trick does not hide the money, the trail remains fully traceable onchain, and the maneuver only slows investigators down, buying time in a race to move funds before they get flagged.

Crucially, the meme-coin trick doesn’t actually hide the money. Elliptic stressed the trail remains fully traceable onchain; the maneuver only slows investigators down, buying time in what is essentially a race to move funds before they get flagged.

Speaker
Elliptic
Publisher
Decrypt (News media)
Original
Binance Hack Launderers Mint Elon Musk and Animal Meme Coins to Move Stolen Crypto
Captured
Stored copy
sha256 f3ed7ba8e2e5
Published