Elliptic: Binance Hacker Launders Money via Self-Created Meme Coins, Approximately $430,000 in Stolen Funds Moved on NEAR Chain

Odaily reports: Blockchain analytics firm Elliptic has released a report stating that the Binance hacker is using self-created meme coins and decentralized exchange liquidity pools to move stolen funds, with related techniques having appeared on the Tron, NEAR, and Solana networks.

Specifically, the hacker first creates new tokens and pairs them with assets such as NEAR or stablecoins to establish liquidity pools, then executes buy and sell operations through different wallets separately, making fund transfers appear as ordinary token transactions, thereby increasing the difficulty of on-chain tracking.

Elliptic points out that between November 5 and 7, the hacker created at least 6 meme coins on the NEAR chain, each costing approximately 25 NEAR to create, and transferred approximately 117,000 NEAR in stolen funds through these tokens, worth about $430,000. The relevant tokens have ceased trading since November 8, and approximately 11.8 million NEAR in stolen funds remain unmoved, worth about $43.7 million.

Elliptic emphasizes that this technique cannot truly conceal the flow of on-chain funds; its main purpose is to slow down the investigation. In the 2025 Bybit theft incident, North Korean hackers also used similar techniques to transfer at least $24 million.