Hey, crypto fam! š±š° Have you heard about *Lazarus Group* and their new meme coin? Itās been a wild ride! The notorious *North Korean hacking group*, known for stealing millions, has launched a *new meme coin called QinShihuang* to launder stolen funds. Letās break it down.
ā
*What Happened? š¤*
On *Sunday morning*, Lazarus Group dropped a *meme coin* called *QinShihuang* on the *Pump Fun* platform. Sounds like a typical meme coin drop, right? Well, hold up. This one comes with a *shady twist*. They used the meme coin to *launder26 million* they stole from the *B...... exchange*. š±šø
---
*How Did They Do It? šµļøāāļø*
- The *hacked wallet* involved in this was identified as *5.............ā¦q*.
- Lazarus Group sent *60 SOL tokens* from this wallet to another wallet (address *9..........ā¦..........*) before launching *half a million QinShihuang tokens*.
- After the coin launch, *heavy trading* of the QinShihuang tokens began, and within *three hours*, *transaction volume* quickly surpassed *26 million*. š¤Æ
ā
*Tracing the Funds š*
On-chain investigator *ZachXBT* did some serious detective work and traced the stolen funds. Hereās the kicker: he found that the attackers moved *1.08 million in USDC* that they stole from *B....* to a new wallet address. This shows that Lazarus Group is continuing their *pattern of laundering stolen crypto funds*. š§š»
---
*What Does This Mean for Crypto? šØ*
- *Meme coins* are still being used for illicit activities like *money laundering*, which brings *major concerns* to the crypto space. While meme coins can be fun, they can also be a *tool for bad actors*.
- Exchanges and platforms need to implement *tighter security* to prevent hackers like Lazarus Group from stealing and laundering funds.
- As traders and investors, *be cautious* and always stay aware of the *fundamentals* behind any coin youāre investing in, especially *meme coins* that may have *hidden agendas*.
---
*Conclusion š”*
Lazarus Group has proven that theyāll stop at nothing to launder stolen crypto, even using meme coins like *QinShihuang* to do it. While meme coins are usually just for fun, it's important to remember that *bad actors* can hijack them for *malicious purposes*. So, stay *alert* and *invest wisely*. ā ļø
$SOL $ETH #memecoins #CryptoLaundering #CryptoSecurity #CryptoNewss #MemeCoinWarning