Magical realism: North Korean hackers laundered money by launching memecoins.
From November 5 to 7, they launched six tokens on NEAR. The cost of issuing them was extremely low—just $90 each. The method was crude and simple: set up their own liquidity pools, buy with one hand and sell with the other. After passing the dirty money through the pool, it became legitimate crypto-trading profits. They successfully transferred out about $430,000.
So be careful when chasing memecoins from now on. You may think you’re trading against a whale, but the other side could be North Korean hackers.
From November 5 to 7, they launched six tokens on NEAR. The cost of issuing them was extremely low—just $90 each. The method was crude and simple: set up their own liquidity pools, buy with one hand and sell with the other. After passing the dirty money through the pool, it became legitimate crypto-trading profits. They successfully transferred out about $430,000.
So be careful when chasing memecoins from now on. You may think you’re trading against a whale, but the other side could be North Korean hackers.