Famous North Korean Hacking group responsible for Atomic Wallet Hack

In a recent development, blockchain compliance analytics firm Elliptic has revealed that funds obtained from the notorious $35 million Atomic Wallet hack have been traced to a crypto mixer believed to be favored by North Korea's most infamous cyber-hacking group. Elliptic's Investigations Team has identified Sinbad.io as the platform responsible for laundering the stolen funds, highlighting its previous involvement in laundering over $100 million in crypto assets stolen by North Korea's Lazarus Group. This revelation suggests a potential connection between the recent hack and the nefarious activities of the Lazarus Group. Elliptic has also suggested that Sinbad.io is likely a rebranded version of Blender.io, a mixer previously sanctioned by the U.S. Treasury Department.

While Elliptic did not disclose the specific amount sent to the mixer, it confirmed that the stolen funds were being converted into Bitcoin before being obfuscated through Sinbad.io. The hack, which took place on June 3, compromised several Atomic Wallet user accounts, resulting in losses amounting to approximately $35 million. Atomic Wallet, however, downplayed the incident by stating that it affected less than 1% of its monthly active users. Roland Säde, Chief Marketing Officer of Atomic Wallet, expressed the team's commitment to recovering the funds and emphasized the importance of completing the investigation to devise an effective plan.

Säde acknowledged the devastating impact of the hack on the Atomic Wallet team, as they had taken great pride in their security measures. He assured users that they were working tirelessly to resolve the issue and emerge from the crisis even stronger. In response to the hack, Atomic Wallet advised affected users to track the illicit transfers and report them to popular crypto exchanges. The aim was to hinder the scammers' attempts to exchange the stolen funds. Säde emphasized that increased vigilance and reporting from the community could make it more challenging for hackers to move the funds successfully.

The connection between Sinbad.io and the Lazarus Group raises concerns about the continued activities of this notorious cyber-hacking organization. The Lazarus Group, believed to operate under the patronage of the North Korean government, has been involved in numerous high-profile cyber-attacks and cryptocurrency-related thefts in the past. The use of crypto mixers like Sinbad.io allows hackers to obfuscate the origins of stolen funds, making them harder to trace. It is alarming to note that Sinbad.io appears to be a rebranded version of Blender.io, a mixer that was previously sanctioned by the U.S. Treasury Department due to its association with illicit activities.