Atomic Wallet Hack Is Getting More Complicated

Key Points:

• In a recent robbery impacting Atomic Wallet customers, North Korean hackers stole more than $100 million in cryptocurrency.
• The hackers targeted over 5,500 digital wallets, according to the business, and were members of the North Korean cybercrime ring known as the Lazarus Group.
• The Atomic Wallet team is also working with the police in Estonia, where the firm is registered.

Elliptic, a blockchain forensics company, said on Tuesday that the damages incurred by Atomic Wallet users as a result of a suspected attack had surpassed $100 million.

The wallet provider admitted receiving allegations that certain wallets had been hacked but claimed that fewer than 1% of its active customers were impacted. It has yet to offer another update.

Elliptic, which tracked over 5,500 wallets believed to have been targeted in the attack, stated that the North Korean hacking association Lazarus Group was responsible for what would be the North Korean hacking association’s first major crypto theft since the $100 million Horizon Bridge exploited a year ago.

Over the first weekend of June, Atomic Wallet customers lost almost $100 million in crypto in Bitcoin (BTC), Ether (ETH), Tether (USDT), Dogecoin (DOGE), Litecoin (LTC), BNB, and Polygon (MATIC).

The team behind Atomic Wallet, the hacked non-custodial mobile crypto wallet, is working with authorities in Estonia, where the firm is registered. According to the Russian-language news source Forklog, CEO Konstantin Gladych said the team got a request from authorities in Kazakhstan.

The company, which claims to be located in Estonia, previously said that it got allegations of wallets being hacked and that it engaged Chainalysis, another cryptocurrency analytics firm, to examine the matter and trace down stolen assets.

The US authorities tied the Lazarus Group to the high-profile Ronin hack, which resulted in the theft of $600 million in digital assets from the Axie Infinity sidechain. Elliptic believes that the Lazarus Group has stolen more than $2 billion in digital assets over many heists.

The United Nations claimed earlier this year that North Korea stole more crypto assets in 2022 than in any previous year. According to international observers, the stolen funds have been funneled into North Korea’s sanctioned nuclear and missile programs.

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