TREE NEWS reports: North Korean hackers created six memecoins on the NEAR blockchain to launder funds stolen in the Binance hack, blockchain analytics firm Elliptic said. The hackers used liquidity pools tied to the new tokens to obscure transfers between wallets, Elliptic traced. The tokens were created as part of a laundering operation that moved stolen crypto through NEAR-based DeFi pools.
Elliptic: North Korean Hackers Laundered Binance Hack Funds via Memecoins
AI take
This case shows how permissionless token creation and DeFi liquidity pools can be repurposed as laundering infrastructure, not just speculative venues. It matters for NEAR's DeFi ecosystem and for analytics firms racing to trace cross-chain flows, since liquidity pools offer plausible cover for wallet-to-wallet transfers. The open question is whether memecoin-based laundering becomes a repeatable playbook that forces closer scrutiny of pool activity on smaller chains.
Generated by AI for reference only.
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