Blockchain analysis firm Elliptic reported on June 13 that its analysis of over 5,500 wallets belonging to Atomic Wallet users’ showed that their losses have risen to more than $100 million.
Elliptic also linked the Atomic Wallet hack to North Korea’s Lazarus Group—a notorious hacker group that has stolen over $2 billion in crypto. According to the blockchain analytical firm, the way the stolen assets are being laundered matches the styles employed by the hackers in the past.
Over $1M of stolen funds frozen
In its June 13 report, Elliptic stated it has worked with several investigators and exchanges worldwide to trace and freeze more than $1 million of the stolen funds.
The blockchain analytics firm continued that the asset freeze has compelled the hackers to modify their approach. The hackers now use Garantex, a sanctioned crypto exchange in Russia, to launder the funds.
On June 3, Atomic Wallet confirmed reports that its users’ wallets were compromised. A June 5 update from t
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