North Korea Hackers Launches Elon Musk Memecoins to Launder $6.4B Binance Hack

North Korea backed hackers have created Elon Musk themed memecoins to launder stolen crypto in the $6.4 billion Binance hack. The hackers are using fake trading activity to disguise the movement of stolen funds. One of the tokens featured Musk beneath an “Elon 2028 President” banner. Five others carried cartoon animals, crude jokes and familiar dog-coin branding. All six were created within three days and quickly abandoned. Blockchain analytics firm Elliptic identified 117,000 NEAR tokens, worth $430,000, passing through the homemade coins between November 5 and November 7. The operation offers another look at how North Korea’s crypto laundering networks are adapting their techniques to move stolen assets.

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