North Korea launders stolen Binance crypto via fake DeFi tokens
Original title: North Korea Uses DeFi Liquidity Pools and Fake Tokens to Move Stolen Binance Cryptocurrency
About 117,000 NEAR, valued at $430,000, moved through six disposable NEAR tokens from November 5 to 7.
Elliptic says North Korean launderers tied to the TraderTraitor theft of Binance wallets created worthless tokens and traded them through decentralized-exchange liquidity pools, making stolen assets look like ordinary sales. According to Elliptic, the FBI attributed the October 29 drain across 11 blockchains to TraderTraitor. The same pattern appeared on Tron, NEAR and Solana, and the blockchain records can still be reconstructed.
Unconfirmed: The theft total and TraderTraitor attribution are stated through Elliptic, which says the FBI made the attribution.
- Each of six NEAR tokens cost about 25 NEAR, or $90, to launch.
- Controlled wallets made every sale and bought every unit of five tokens.
- Elliptic places the activity in its investigation of a reported $6.43 billion Binance theft.
- By November 9 the wider operation covered more than 20,000 wallets and 16 blockchains.
Impact: Stolen cryptocurrency moved to other wallets through pools
- 1.Scrutinize proceeds from newly launched tokens with concentrated counterparties
- 2.Treat centralized exchanges and brokers as later interception points
- Vendors
- Binance
- Threat actors
- TraderTraitor
- Victims
- Binance
- Countries
- North Korea
From the original article
3 min read at gbhackers.com
North Korean cryptocurrency launderers are manufacturing worthless meme tokens and routing stolen Binance assets through decentralized exchange liquidity pools, replacing direct wallet transfers with apparently routine trading activity. Approximately 117,000 NEAR, valued at $430,000, passed through six disposable tokens.
By Mayura Kathir · gbhackers.com
A short excerpt; the article and its images belong to the publisher. Summary, key facts and assessment above are AI-written from the article and can be wrong.