"Alarm signal for the entire industry". This is how North Korea launders stolen billions

A group linked to North Korea, TraderTraitor, allegedly stole $6.3 billion in cryptocurrencies from Binance. They are reportedly using lesser-known memecoins to transfer some of the stolen funds. An analyst noted that around $430,000 has already flowed through these tokens. The FBI observed the stolen assets being converted to ether and moved via decentralized finance services. Tracking these transactions is challenging, but the technology exists to monitor stolen funds. Experts emphasize the need for coordinated action in the cryptocurrency industry to prevent laundering of stolen assets.