Blockchain analytics firm Elliptic found six such memecoins, created between November 5 and 7, each costing around $90.
The trick is simple. Hackers create a liquidity pool on a DeFi exchange, pairing the memecoin with a legitimate cryptocurrency like NEAR.
One hacker wallet uses stolen NEAR to buy the memecoin, while another wallet sells it back to the same pool in exchange for NEAR.
This makes it look as if the receiving wallet earned the funds through normal trading. They have already moved $430,000 this way on NEAR, and the same trick has also appeared on Tron and Solana.
The trick is simple. Hackers create a liquidity pool on a DeFi exchange, pairing the memecoin with a legitimate cryptocurrency like NEAR.
One hacker wallet uses stolen NEAR to buy the memecoin, while another wallet sells it back to the same pool in exchange for NEAR.
This makes it look as if the receiving wallet earned the funds through normal trading. They have already moved $430,000 this way on NEAR, and the same trick has also appeared on Tron and Solana.
