After hacking Binance for $6.3 billion late last month , the North Korea-associated hacking group allegedly behind the theft , TraderTraitor, has been using a variety of methods to launder the stolen crypto. In a new report published Monday morning , blockchain analysis firm Elliptic laid out how one of the group’s latest tactics is to create memecoins and move illicit funds through them.

According to the report, the launderers create a new token and pair it with another crypto asset, such as NEAR or a stablecoin, in a liquidity pool on a decentralized exchange. One set of wallets buys the token with stolen funds, and a separate set of wallets, also controlled by the launderers, later sells the token back into the same pool and withdraws the paired crypto asset.…