Atomic Wallet Hack: Stolen Crypto Linked to North Korean Hackers Through a Mixing Service

According to blockchain analysis firm Elliptic, the assets stolen from the latest Atomic Wallet hack have been moved through a mixing service. While mixers and blowers aim to provide privacy for legitimate crypto users, they are also commonly misused by hackers and scammers to hide stolen funds.

Elliptic reveals laundering linked to Atomic Wallet hack

Last week, hackers breached the non-custodial decentralized wallet, Atomic Wallet, and made off with over $35 million in various crypto assets from unsuspecting users.

However, the hackers did not stop here. In an effort to cover his tracks, he moved the stolen funds through a crypto-mixing service to obscure the source of the money.

one in do Recently the company’s investigative team created by Elliptic revealed that it tracked the funds stolen in the attack to Sinbad.io, a mixer linked to North Korea’s nefarious Lazarus Group.

According to the investigation, the stolen assets were converted into bitcoins and transferred through Mixer. Unfortunately, the exact amount paid to Mixer is still unknown, and Elliptic did not specify in the tweet.

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result of hack

Last week, Atomic Wallet became the latest crypto company to fall victim to a hack and its security breached. Over the weekend, users started flooding Twitter with complaints that digital assets like Tether’s USDT, Ripple (XRP), Cardano (ADA) and Dogecoin (DOGE) had mysteriously disappeared from their wallets. Some clients have even reported that they completely lost all of their cryptocurrency holdings.

Atomic Wallet also confirmed reports of a hacked wallet on its platform. Although details of how the hack occurred were not released, it is highly likely to have been a direct phishing attack.

company couple that less than 1% of its monthly users were affected by the hack. however, some users claimed otherwise as the non-custodial decentralized wallet has 5 million users.

The investigation into the Atomic Wallet hack continues as authorities work to track down the stolen funds. Unfortunately, the cryptocurrency stolen in a hack is difficult to trace once it’s been moved around.

There is always the possibility that some or even all of the funds may never be recovered due to the unknown nature of cryptocurrency.

The hack serves as an important reminder that security is the most important element of investing in crypto, as user funds are a prime target for cybercriminals looking to make a quick buck.

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