Molecular communication (MC) is envisioned to realize nanotheranostics as an emerging diagnostic tool to improve existing treatment modalities. Phase separation (PS) is a complex time-dependent process responsible for discrimination of two independent phases from a single homogeneous mixture. Recently, PS was revealed to be the fundamental mechanism behind formation and organization of the living cells. Inspired by PS mechanisms in nature, we establish a novel modulation scheme for MC which encodes the information in the dispersion of molecules diffusing in the environment. Hence, the diffusion distribution can be considered as carriers of molecules. To evaluate the performance of this communication scheme, a dualcarrier diffusion-division modulation (DDM) is adopted where each carrier can be effectively modeled by superposition of multiple independent phases. We derive the theoretical bit error rate (BER) of the proposed DDM scheme which is validated by particle-based simulation (PBS). Furthermore, performance of the multi-carrier DDM scheme is compared to the well-known on-off keying (OOK) modulation scheme (as the most relevant benchmark) and pulse-position modulation (PPM) scheme. Interestingly, the proposed DDM is a covert modulation scheme since any other receiver cannot decode the transmitted signal by just counting the number of received molecules unless having the shared key. Moreover, the DDM scheme requires a receiver that exploits the displacement distribution of the molecules inside the receiver to infer about the tranmitted bit. We strongly believe that this concept will introduce novel types of communication schemes more compatible with biological microenvironments. Also, this work establishes the foundation for more complex orthogonal multi-carrier DDM schemes which can potentially unlock novel cellular sensing mechanisms in biology.