Reporting · companies
North Korea-linked hackers allegedly laundered Binance hack funds through memecoins
Elliptic linked funds from the Binance hack to six animal-themed memecoins, one of which promotes Elon Musk for 2028.
Quick take
- Elliptic links North Korea-linked hackers to alleged laundering of funds from a $6.4 billion Binance theft.
- Around $430,000 in NEAR was moved into memecoins, and each memecoin launch cost about $90.
- The same method was also used after the $1.5 billion Bybit hack.
Protos reported that North Korea-linked hackers are allegedly laundering funds from the Binance hack, with the stolen amount cited at $6.4 billion. Elliptic linked about $430,000 in NEAR to memecoins, and the firm did not name the tool or decentralised exchange used in the process.
The funding was traced to a TraderTraitor wallet holding about $43.7 million in NEAR. Six animal-themed memecoins were involved, including ones featuring ducks and chimpanzees, and one promotes Elon Musk for 2028. Profit was roughly equal to the money put in, and each memecoin launch cost about $90.
Stolen funds were also traced to TRON and Solana tokens. The same method was used after the $1.5 billion Bybit hack, and TRON memecoins moved at least $24 million in that case. The findings tie the Binance funds to memecoin launches on several blockchains, not one.
Sources
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