North Korean hackers launder $430,000 in Binance theft using memecoins, Elliptic says

North Korean cybercriminals linked to the TraderTraitor group have transferred approximately $430,000 in stolen digital assets from the Binance platform through a series of custom-made memecoins, according to a new report from blockchain analytics firm Elliptic. The operation took place in the days following Binance’s $6.4 billion security breach, the largest in the exchange’s history. Elliptic revealed that hackers conducted a sophisticated laundering scheme by introducing six new cryptocurrencies: FUK, OLCCL, MEILI, MMLI, DABI, and SINU. These tokens were established with minimal upfront costs, each requiring around 25 NEAR tokens—valued at approximately $90 at the time—for creation. The tokens were immediately paired with NEAR on decentralized exchanges, forming liquidity pools to facilitate trades. The process unfolded with attacker-controlled wallets buying the memecoins using assets acquired in the Binance hack.

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