Binance Hack Update: North Korea Used Elon Musk’s Face to Launder Money

North Korea’s hackers have found a new use for meme coins. They are minting their own, one showing Elon Musk under an “Elon 2028 President” banner, to wash money stolen from Binance, blockchain analytics firm Elliptic said Monday. Elliptic said Musk has no link to the tokens. About 117,000 NEAR Protocol (NEAR), worth roughly $430,000 by Elliptic’s estimate, has passed through six homemade tokens. Elliptic says exchanges that already accepted money from these trades need to check it again. $90 Meme Coin Hides Stolen Money The money comes from the $6.4 billion October theft that the FBI blamed on North Korea . Each fake token cost about $90 to launch. The launderers paired every one with NEAR in a liquidity pool, an automated swap booth on a decentralized exchange.

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