North Korea minted six memecoins to wash Binance hack money. The scary part isn't the $430K.
The headline read: hackers now launder through memecoins. Elliptic's data says something quieter. About 117,000 NEAR (~$430,000) went through six throwaway tokens made Nov 5-7, on a theft of more than $6 billion. Each token cost ~$90 to create, was dumped within hours, and none has traded since Nov 8.
Why it may be less alarming than it sounds: nobody outside the network traded them, so the pattern is easy to spot, and Elliptic says it slows tracing rather than hiding the funds.
What I'd watch instead: Elliptic says ~11.8M NEAR (~$43.7M) from the theft hasn't moved yet. $NEAR is $3.62, -2.21% over 72h (Coinbase candles, chart attached). Does an unmoved pile like that matter more to you than the trick itself?
#NEAR #Security #Binance
Disclosure: Write to Earn may pay me a commission on cashtag trades.
The headline read: hackers now launder through memecoins. Elliptic's data says something quieter. About 117,000 NEAR (~$430,000) went through six throwaway tokens made Nov 5-7, on a theft of more than $6 billion. Each token cost ~$90 to create, was dumped within hours, and none has traded since Nov 8.
Why it may be less alarming than it sounds: nobody outside the network traded them, so the pattern is easy to spot, and Elliptic says it slows tracing rather than hiding the funds.
What I'd watch instead: Elliptic says ~11.8M NEAR (~$43.7M) from the theft hasn't moved yet. $NEAR is $3.62, -2.21% over 72h (Coinbase candles, chart attached). Does an unmoved pile like that matter more to you than the trick itself?
#NEAR #Security #Binance
Disclosure: Write to Earn may pay me a commission on cashtag trades.
