Six throwaway meme coins on $NEAR , about $90 each to launch, had one job: moving stolen Binance funds.
That's from Elliptic's November 9 report on the laundering of the October 29 hack, the theft Binance put at $6.3B and the FBI tied to North Korea's TraderTraitor.
The trick: mint a token, pair it with NEAR in a DEX pool, buy it with stolen NEAR from one set of wallets, sell it from another. No direct transfer between them. About 117,000 NEAR (around $430K) went through between November 5 and 7, and none of the six tokens has traded since November 8.
Solana saw a variant on November 3: stolen $SOL swapped through existing thinly traded tokens, then into USDC.
Why a $NEAR holder should care: Elliptic counts about 11.8M stolen NEAR ($43.7M) still unmoved. That's roughly half of the last 24 hours' $91M in volume, and every hop shows up on-chain ๐
NEAR sits at $3.665 today, up 1.61% in 24 hours, with Fear & Greed at 29.
The side lesson: a brand-new NEAR meme coin with big volume and only a wallet or two on each side may not be a market at all.
Would you still ape into a fresh meme coin pool after seeing how these were used?
#NEAR #BinanceHack #MemeCoins
That's from Elliptic's November 9 report on the laundering of the October 29 hack, the theft Binance put at $6.3B and the FBI tied to North Korea's TraderTraitor.
The trick: mint a token, pair it with NEAR in a DEX pool, buy it with stolen NEAR from one set of wallets, sell it from another. No direct transfer between them. About 117,000 NEAR (around $430K) went through between November 5 and 7, and none of the six tokens has traded since November 8.
Solana saw a variant on November 3: stolen $SOL swapped through existing thinly traded tokens, then into USDC.
Why a $NEAR holder should care: Elliptic counts about 11.8M stolen NEAR ($43.7M) still unmoved. That's roughly half of the last 24 hours' $91M in volume, and every hop shows up on-chain ๐
NEAR sits at $3.665 today, up 1.61% in 24 hours, with Fear & Greed at 29.
The side lesson: a brand-new NEAR meme coin with big volume and only a wallet or two on each side may not be a market at all.
Would you still ape into a fresh meme coin pool after seeing how these were used?
#NEAR #BinanceHack #MemeCoins