Skip to main content
Back to news
Safety

North Korean Hackers Allegedly Used Memecoins to Launder Binance Hack Funds, Elliptic Reports

(1 hour ago) · 1 source · Summarized by CryptoBipto

Blockchain analytics firm Elliptic has reported that hackers linked to North Korea created memecoins as a method to launder funds stolen from a Binance hack. The scheme allegedly involved using token creation and trading activity to obscure the origins of illicit funds.

WHY IT MATTERS

When hackers steal cryptocurrency, they need ways to convert it into usable money without being caught.

Read the full analysis with a CryptoBipto membership

Members read why every story matters and the full analysis behind it.

SOURCES

  • cointelegraph.com

RELATED

BNBCrypto LaunderingNorth Korean HackersMemecoinsBlockchain AnalyticsExchange Security