"'Bybit Hacker' Launders Money Through Meme Coins... Over $26M in Transactions"
Summary
- It was reported that hackers were discovered to be laundering money through meme coins.
- It was pointed out that the Lazarus hacking group was involved in this money laundering.
- The issued Qin Shi Huang token has been traded for over $26 million to date.
Claims have emerged that the hacker who attacked global cryptocurrency exchange Bybit is laundering funds using meme coins.
Crypto media outlet WuBlockchain reported on the 23rd (local time) that "a new money laundering method by the (Bybit) hacker has been detected" and "the hacker is laundering funds by issuing meme coins on Pump.pump." Pump.pump is a meme coin issuance platform.
WuBlockchain pointed out that "the entity issuing meme coins on Pump.pump appears to be an organization responsible for Lazarus' money laundering." Lazarus, a North Korean hacking group, is suspected to be the main perpetrator of the Bybit hacking incident. WuBlockchain stated that "(the hacker) issued 500,000 tokens called 'Qin Shi Huang' and these tokens have already been traded for more than $26 million," adding that "Lazarus' money laundering methods are likely to be complex and multi-layered."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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