North Korean Hackers Use Memecoins While xStocks Adds Hong Kong Equities

North Korean hackers have turned to creating memecoins in an attempt to launder funds stolen in high-profile cyberattacks, according to blockchain analytics firm Elliptic. Between November 5 and 7, hackers created at least six tokens on the NEAR network, using decentralized exchange liquidity pools to move $430,000 of stolen funds following the $6.3 billion Binance hack. The tokens gained virtually no external trading traction and were abandoned quickly. Elliptic noted that a similar laundering method was deployed after the 2025 Bybit hack, where North Korean-linked actors moved at least $24 million through a TRON blockchain token.

Meanwhile, Kraken parent Payward's xStocks platform has expanded its asset offerings by adding tokenized versions of over 200 United Kingdom and European Union stocks, bringing its total to more than 1,500 tokenized assets. The company reported more than $45 billion in cumulative transaction volume and over 550,000 unique holders. Building on this momentum, Payward announced plans to incorporate hundreds of Hong Kong-listed equities in the coming weeks, reflecting strong interest from wealthy investors in hong kong.

North Korean hackers use memecoins to launder stolen crypto funds while platforms expand tokenized offerings.

Regulatory developments are sweeping across the global crypto landscape. In South Korea, the Financial Services Commission plans to permit crypto exchanges to suspend deposits and withdrawals preemptively when hacking is suspected, rather than waiting for formal breach confirmation. South Korean exchange GOPAX temporarily halted operations after receiving threatening emails warning of an imminent cyberattack. In Thailand, the securities regulator proposed capping daily stablecoin deposits and withdrawals at 5 million baht per customer to curb cybercrime and money laundering, alongside plans to block access to Bitget and introduce strict retail investor testing.

Financial institutions are also experiencing structural shifts. Japanese financial services giant Nomura Holdings is reportedly considering selling its crypto subsidiary Laser Digital amid ongoing European losses. Nomura's European operations reported a pretax loss of 7.4 billion yen for the quarter ending September 30, 2026. Additionally, Nomura's former crypto derivatives head, John Kim, has joined DV Trading in Singapore to lead a new discretionary trading team.

Why it matters

The ongoing evolution of regulatory frameworks and illicit fund laundering techniques highlights increasing vulnerabilities and oversight across international crypto markets. Regulatory changes in South Korea and Thailand aim to protect users from sudden exchange breaches and illicit financial flows, while tokenization platforms continue to broaden global asset access for investors.

These developments directly impact global digital asset participants, institutional traders, and retail investors who must navigate stricter compliance measures, altered exchange accessibility, and evolving security protocols.