Binance Hackers Use Fake Elon Musk and Animal Memecoins to Launder Stolen Funds

TL;DR Blockchain analytics firm Elliptic identified six newly created memecoins used to disguise approximately $430,000 in stolen NEAR tokens linked to the $6.4 billion Binance hack. The tokens featured animal-themed branding and a fake Elon Musk presidential campaign reference , with no evidence connecting Musk to the scheme. Investigators identified similarities with laundering techniques used after the 2025 Bybit hack , when approximately $24 million moved through a homemade token. The laundering operation linked to the $6.4 billion Binance hack has adopted an unusual strategy involving fake Elon Musk branding and animal-themed memecoins . According to blockchain analytics firm Elliptic, attackers connected to North Korea used decentralized trading mechanisms to make stolen cryptocurrency harder to track.

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