Binance Hack Launderers Created Custom Memecoins to Move Stolen Funds, Elliptic Reports
(3 hours ago) · 1 source · Summarized by CryptoBipto
Blockchain analytics firm Elliptic has reported that individuals laundering funds from a Binance hack minted their own memecoins themed around Elon Musk and animals to obscure the movement of stolen cryptocurrency. The technique reportedly involved creating tokens, adding liquidity with stolen funds, and then swapping or withdrawing through different wallets to break the trail.
WHY IT MATTERS
Think of this like someone counterfeiting a brand-new board game, selling it at a flea market, and then pocketing the cash — the goal is to make dirty money harder to trace by running it through something new and unfamiliar.
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SOURCES
- theblock.co
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