COINDESK · 2026-11-09 15:00 UTC

North Korean hackers are creating memecoins to wash loot from $6.3 billion Binance hack

North Korean hackers created six memecoins between Nov. 5 and Nov. 7 and moved about 117,000 NEAR tokens, worth roughly $430,000, through them, according to Elliptic. The hackers traded the tokens only with wallets they controlled, so the stolen funds appeared to be trading profits; outside buyers accounted for less than 1% of one token's volume. The FBI has linked the Oct. 29 Binance theft of $6.3 billion to North Korea's TraderTraitor group, which has also used THORChain to convert assets into bitcoin.

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