North Korean launderers are creating their own worthless meme coins and pushing stolen Binance funds through them so the coins never move directly from one wallet to another, blockchain analytics firm Elliptic said Monday.

Between Nov. 5 and 7, the operators minted at least six new tokens on the NEAR blockchain — named FUK, OLCCL, MEILI, MMLI, DABI and SINU — paired each with NEAR in its own liquidity pool, then bought the tokens with stolen NEAR and sold them back out through a second set of wallets. About 117,000 NEAR, or roughly $430,000, passed through the six tokens, Elliptic wrote.

The trail sits inside the broader laundering of the Oct. 29 Binance theft, which the…

Read more on BitcoinMagazine