North Korea linked hackers are reportedly using memecoins to hide money stolen in the $6.4 billion Binance hack, according to Elliptic.

Between November 5 and 7, they created at least 6 memecoins on NEAR, spending around $90 per token.

They then moved 117,000 NEAR worth approximately $430,000 through decentralized exchange liquidity pools.

Here is what makes this interesting. Instead of simply transferring stolen funds between wallets, they used fake trading activity to make the money harder to track.

In my opinion, this shows how easily legitimate crypto tools can be abused. Memecoins are already highly speculative, but now they are also becoming part of sophisticated money laundering operations.

The bigger concern is that criminals keep finding new ways to exploit the same technology that makes crypto so useful.

What do you think about this? Don't forget to comment 💭

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