According to a report by Elliptic, North Korean hackers laundered stolen cryptocurrency by creating six worthless meme tokens on the NEAR network. They paired each token with a legitimate asset in a decentralized exchange liquidity pool, bought the tokens with wallets holding stolen funds, and then sold them back into the same pool to withdraw legitimate assets. Between November 5 and 7, around 117,000 NEAR, worth approximately $430,000, passed through the six tokens. This method had previously been used to launder at least $24 million stolen during the 2025 Bybit hack and has now been identified across the TRON, NEAR, and Solana networks.
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