North Korean Hackers Actively Launder Funds Related To The Atomic Wallet Attack

Key Points:

• North Korean hackers are aggressively stealing money from the Atomic Wallet assault.
• Atomic has not yet updated users with any additional information.
• North Korean hackers also utilize the SWFT Blockchain to connect ETH to several BTC addresses.

North Korean hackers stole almost $100 million from Atomic Wallet customers, and the corporation has yet to give a convincing answer to the users’ concerns. Additionally, despite knowing that they had been hacked, the corporation did not tell its subscribers about their safety. At the moment, hackers are searching for methods to launder the money used in the assault.

North Korean hackers are aggressively laundering cash tied to the Atomic assault, according to MistTrack. In the last two days, a hacker address beginning with 0xad3 moved 503.08 ETH to THORChain, converted BTC and then bridged to the Bitcoin address beginning with bc1q. North Korean hackers also utilized the SWFT Blockchain to connect ETH to several BTC addresses.

MistTrack previously reported on June 15 that North Korean hackers were laundering stolen cash from Atomic. They used a number of smart contracts to launder money. The money laundering approach used was identical to that used in the Harmony cross-chain bridge hacking event.

Atomic users have reported losing their whole crypto holdings due to a stunning vulnerability. Atomic Wallet is a decentralized non-custodial wallet. Its main concept is based on the corporation accepting full responsibility for properly holding the user’s money; hence, this unexpected breach has stunned the crypto world.

According to an Elliptic assessment, the damages from the Atomic Wallet heist have already surpassed $100 million. This distressing figure emphasizes the gravity of the attack, which compromised an estimated 5,500 crypto wallets.

Notwithstanding the gravity of the situation, Atomic has yet to provide an explanation for the reason for these massive losses. As a consequence, dissatisfied consumers become more concerned, eagerly anticipating clarity and assurance from the company.

Elliptic has linked the heist to the notorious Lazarus Group, which is suspected of being behind many thefts totaling more than $2 billion in crypto assets. According to Elliptic, this is the first time a significant crypto heist has been clearly ascribed to the Lazarus Group since their $100 million Horizon Bridge attack in June 2022.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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