Introduction

Atomic Wallet, a non-custodial wallet, has been hit by a major exploit. This unforeseen breach has shocked the crypto community, given that Atomic Wallet operates under the principle that users are responsible for securely storing their crypto and its source code is open-source.

Scope of the Hack

Earlier this month, on June 3, rumors began circulating on Twitter about a hack of Atomic Wallet, a centralized storage and wallet service. This hack reportedly involved the theft of approximately $100 million worth of various tokens, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Dogecoin (DOGE), Litecoin (LTC), BNB coin (BNB), and MATIC. These alarming figures underscore the severity of the attack, affecting an estimated 5,500 crypto wallets.

Investigation and Involvement of Lazarus Group

Elliptic has linked the theft to the infamous Lazarus Group, known for its involvement in stealing over $100 million.

Response from Atomic Wallet and Collaboration with International Investigators

Following the theft, Elliptic reported collaborating with international investigators and exchanges, deploying resources to recover the stolen assets. The efforts of the blockchain analytics company reportedly led to the freezing of over $1 million in stolen funds.

Money Laundering of Stolen Assets via Garantex

The blockchain analytics firm noted that in response to the freezing of these funds, the hackers shifted their tactics, moving to launder the stolen assets through the Russia-based Garantex exchange.

Recommendations for Security Measures and Alternative Wallets

The recent hack of Atomic Wallet highlights the importance of diligence in choosing a wallet and implementing security measures. Users may consider using alternative wallets such as Exodus and Electrum, and employing a hardware wallet for storing funds that will not be actively traded for an extended period.

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