Lazarus Group Strikes Again: Atomic Wallet Hack Exceeds $100 Million Losses
The leading blockchain analytics service Elliptic has stated that the losses from the Atomic Wallet hack have surpassed $100 million, and the hack has been linked to North Korea’s Lazarus Group.
Atomic Wallet, an Estonian wallet service provider, revealed in a tweet on June 3 that there had been “reports of wallets being compromised” and that “less than 1%” of users had been affected.
The evidence implies that Lazarus Group, which was previously tied to the $100 million Horizon Bridge hack in June 2022, is responsible for siphoning $100 million from over 5,000 Atomic wallets, according to Elliptic’s investigation.
“At least ten crypto addresses have lost more than $1 million, and at least 164 have lost more than $100,000. The average loss is $2,800,” according to the statement.
Elliptic explained the relationship between two hacking cases, one involving Harmony/ Horizon and the other involving Atomic Wallet hack, in a thread.
The Lazarus group is purposefully converting ETH to WETH and then back to ETH since it makes it difficult for conventional transaction monitoring systems, which typically focus on specific assets, to track the source of the funding.
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