Elliptic says the money launderers in the Binance hack minted their own Musk-themed and animal-themed meme coins to move the stolen funds.
According to The Block, this approach added several more layers of exchanges to the original route. Elliptic says the extra exchanges will slow down the investigation, but the stolen funds can still be traced on-chain.
· The change was in how the funds moved: an extra step of minting custom tokens and then exchanging them—not the disappearance of the funds.
· The funds remain traceable, according to Elliptic; specific amounts and token names were not provided.
Would you first track the minting addresses of these custom tokens, or the flow of funds after the exchanges?
According to The Block, this approach added several more layers of exchanges to the original route. Elliptic says the extra exchanges will slow down the investigation, but the stolen funds can still be traced on-chain.
· The change was in how the funds moved: an extra step of minting custom tokens and then exchanging them—not the disappearance of the funds.
· The funds remain traceable, according to Elliptic; specific amounts and token names were not provided.
Would you first track the minting addresses of these custom tokens, or the flow of funds after the exchanges?
