Binance hack launderers mint meme coins to hide stolen crypto trail

Blockchain analytics firm Elliptic reports that the hackers behind the Binance hack are minting their own worthless meme tokens, some featuring cartoon animals and Elon Musk logos, to launder stolen funds. The tokens are used to route the stolen crypto through liquidity pools, obscuring the money trail. The tactic highlights how meme-coin liquidity venues can be abused for laundering, a reputational and compliance risk for exchanges and DeFi platforms.