Atomic Wallet has recently released new information regarding the hack it suffered on June 3. According to the wallet service, less than 0.1% of its 5 million users were affected by the breach, with no new cases reported since the incident took place.
The company is currently working to recover the lost funds and identify the cause of the attack. They are collaborating with major cryptocurrency exchanges to freeze suspicious deposits and have also partnered with blockchain analysis firms Chainalysis and Crystal to track the stolen assets. Some funds are confirmed to be blocked at various exchanges, though the exact amounts remain undisclosed.
While the total sum lost in the hack has not been revealed, blockchain security firm Elliptic has reported that more than $100 million was stolen. This figure is significantly higher than the initial $35 million cited by blockchain researcher ZachXBT. Elliptic’s report also mentioned that around $1 million worth of the stolen cryptocurrency was frozen across multiple exchanges.
Regarding the potential causes of the security breach, Atomic Wallet has identified four possibilities: virus targeting on local user devices, infrastructure breach, malware code injection, or a man-in-the-middle attack. The identity of the attacker remains uncertain, but security firms Elliptic and MistTrack have linked the breach to the notorious North Korean hacking group Lazarus.
An Atomic Wallet spokesperson would not confirm the involvement of the Lazarus group but noted that “some investigation agencies” have attributed the attack to a group similar to Lazarus.
In an effort to launder the stolen funds, the hackers reportedly used various techniques. According to Elliptic, tainted tokens were converted to Bitcoin and subsequently mixed through Blender.io. Further, Elliptic found that the attackers utilized sanctioned Russian crypto exchange Garantex to convert the cryptocurrency into fiat. Meanwhile, MistTrack’s report from June 20 indicated that the hackers employed decentralized bridges like ThorChain and Swift Blockchain to convert stolen ETH to BTC.
This incident highlights the importance of heightened security measures and thorough investigations in the digital asset space. By diligently collaborating with major exchanges and blockchain analysis firms, Atomic Wallet aims to recover the lost funds and bring perpetrators to justice, emphasizing the need for continued vigilance in protecting user assets.
Source: Decrypt
