Elliptic: Binance hacker laundered funds through self-created meme coin, approximately $430,000 in stolen funds have been transferred on the NEAR chain

Odaily Planet Daily News: Blockchain analytics firm Elliptic released a report stating that the Binance hacker is using self-created meme coins and decentralized exchange liquidity pools to transfer stolen funds, with such tactics already observed on the Tron, NEAR, and Solana networks. Specifically, the hacker first creates new tokens and pairs them with assets like NEAR or stablecoins to establish liquidity pools, then uses different wallets to execute buy and sell operations separately, making fund transfers appear as ordinary token trades and thus increasing the difficulty of on-chain tracking. Elliptic noted that between November 5 and 7, the hacker created at least six meme coins on the NEAR chain, each costing around 25 NEAR, transferring approximately 117,000 NEAR worth about $430,000 in stolen funds through these tokens. The related tokens have ceased trading since November 8, and about 11.8 million NEAR in stolen funds—valued at roughly $43.7 million—remain unmoved. Elliptic emphasized that this method does not truly conceal on-chain fund flows but mainly delays investigation progress. In the 2025 Bybit hack, North Korean hackers also used similar tactics to move at least $24 million.