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Stolen crypto-assets from Atomic Wallet began to flow to Lazarus Group-affiliated services

According to analysts at Elliptic, the crypto-assets that were stolen from the Atomic Wallet have started flowing to Sinbad, a service popular with Lazarus Group hackers.

The first transactions began on the night of June 3. The process was then put on stream. Unknown people would withdraw assets from a particular user’s wallet to a new address, then exchange them through decentralized exchanges like Sushiswap, Uniswap, MM Swaps, and others. After the funds were withdrawn to the new address. The Elliptic team says it has traced the $35 million stolen from the Atomic Wallet.</nbsp;

Most of the funds were sent to cryptomixer Sinbad. The platform has previously been used to launder crypto-assets stolen by the North Korean hacker Lazarus Group. Elliptic analysts did not specify the amount sent to the mixer, but noted that the funds were exchanged for bitcoins.

Meanwhile, Atomic Wallet marketing director Roland Säde said the team is “doing everything we can to get the funds back.”

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“Of course, the team is devastated because we were very proud of our security. We are working around the clock to solve everything and get out of this crisis,” he added.

One Atomic Wallet user lost 1,897 ETH ($3.5 million). Also, the five largest wallets, from which hackers withdrew funds, lost a total of $ 9.7 million. The only way Atomic Wallet users can protect their assets is to transfer funds to new addresses created with different software.

According to monthly report of PeckShield analysts, in May hackers stole $16 million worth of cryptocurrency, while unscrupulous developers stole at least $55 million from their users.<br