Memecoins used to move proceeds from Binance hack
Crime · First reported 9 Nov, 15:54 · Updated 16:34
Reports say hackers behind a $6.3 billion Binance heist used memecoins to launder some proceeds. Elliptic says the swaps complicate investigations, while the funds remain traceable onchain.
- Bloomberg reports that hackers who stole $6.3 billion from Binance turned to memecoins to launder part of the proceeds.
- The Block, citing Elliptic, says the hackers minted homemade Elon Musk- and animal-themed memecoins to move stolen funds.
- Elliptic says the additional swaps slow investigators but do not prevent onchain tracing of the stolen funds.
Summary written by Lux AI from 2 articles
Key facts
- Reported amount stolen
- $6.3 billion
- Assets used
- Memecoins, including homemade Elon Musk- and animal-themed tokens
- Elliptic's assessment
- Swaps slow investigators, but the stolen funds remain traceable onchain.
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- Corporation 50% (1)
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