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Security · High impactFan score 4 · Tier D7 sources

Binance says it has covered all of the $6.3B in cryptoassets stolen on October 29, using its profits and emergency funds to replace common and obscure tokens (Teresa Xie/Bloomberg)

Techmeme ·

Binance says it has covered all of the $6.3B in cryptoassets stolen on October 29, using its profits and emergency funds to replace common and obscure tokens (Teresa Xie/Bloomberg)

The Brief · written from 7 sources

  • Hackers who stole $6.3 billion from Binance Holdings Ltd. created at least six memecoins on the NEAR blockchain to launder about $430,000 of stolen funds, according to Elliptic.
  • Bloomberg reports the hackers turned to memecoins to launder a slice of the proceeds from the heist.

Why it matters

Memecoins on NEAR are being used to move stolen crypto, so developers building on NEAR or running exchange and token-monitoring tools may need to watch for similar token activity.

Who’s affected

  • Binance users and stakeholders
  • NEAR blockchain developers

Teresa Xie / Bloomberg : Binance says it has covered all of the $6.3B in cryptoassets stolen on October 29, using its profits and emergency funds to replace common and obscure tokens — Binance said it has covered all of the $6.3 billion in cryptoassets pilfered from…

Read the full story at techmeme.com ↗

Timeline

  1. Techmeme

    Blockaid: Binance hackers stole ~$2.5B, or 40% of the $6.3B haul, in a single Ethereum transaction using wallet permissions that cost just $15 to set up (Sidhartha Shukla/Bloomberg)

  2. The Trail of Bits Blog

    After Binance, check what your signing systems can approve

  3. Elliptic reports six memecoins on NEAR used to launder about $430,000 of stolen Binance funds

  4. Bloomberg Technology

    Binance Hackers Made Memecoins to Launder Stolen Crypto

  5. Techmeme

    Elliptic: hackers behind the $6.3B Binance heist created at least six memecoins on the NEAR blockchain network to launder about $430,000 of stolen funds (Emily Nicolle/Bloomberg)

  6. Techmeme

    Binance says it has covered all of the $6.3B in cryptoassets stolen on October 29, using its profits and emergency funds to replace common and obscure tokens (Teresa Xie/Bloomberg)

  7. The Record from Recorded Future News

    Feds announce seizure of $1.2 billion from Binance theft; also takedown of ‘FaceStealer’ tools

  8. Techmeme

    The DOJ says it got court authorization to seize or restrain $1.2B of the $2.7B frozen by Tether and Circle after North Korea's $6.3B Binance hack on October 29 (Myles Miller/Bloomberg)

Full coverage · 7 sources

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