Elliptic links North Korea launderers to NEAR meme coin scheme after Binance hack

Blockchain analytics firm Elliptic has identified a new tactic used by North Korean-affiliated crypto launderers, who have reportedly turned to minting their own disposable meme coins to wash stolen funds. According to Elliptic’s latest report, this approach was used to process approximately 117,000 NEAR, around $430,000, over just three days between November 5 and November 7. Elliptic outlined the mechanics of the operation: the launderers created six different tokens, each paired with NEAR in a liquidity pool on decentralized exchanges. The process unfolded with one group of wallets depositing NEAR stolen from Binance into a liquidity pool to obtain the new tokens, followed by another group selling those tokens back and retrieving NEAR.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinTurk News.