Binance hack launderers swap stolen funds into homemade memecoins, Elliptic says

Elliptic reports that launderers of funds stolen in the Binance hack are swapping the assets into homemade Elon Musk and animal-themed memecoins to slow investigators down. The extra swap steps add friction to tracing, but Elliptic says the stolen funds remain traceable onchain. The finding matters to traders because it shows how hack proceeds are still being moved through Binance-linked wallets and obscure tokens, keeping exchange security and laundering risk in focus.