North Korean hackers are using their own memecoins to launder cryptocurrency stolen in the $6.4 billion Binance hack.
The scheme involves creating new tokens and liquidity pools on DEXs. The hackers use some wallets to buy tokens with the stolen funds and others to sell them, making the transactions harder to trace.
From November 5 to 7, the attackers created at least six memecoins on the NEAR network, moving around 117,000 NEAR ($430,000) through them. Creating each token cost about $90. Similar schemes have been detected on the Tron and Solana networks.
This method was previously used to launder funds stolen from Bybit in 2025. At least $24 million passed through similar tokens on Tron at the time.
The transactions can still be traced on the blockchain, but the use of memecoins makes investigations much more difficult.