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<p class="is-style-lead">Elliptic identifies the movement of illicit funds from the $35 million Atomic Wallet breach to Sinbad.io, a crypto mixer with ties to North Korea&#8217;s Lazarus Group.</p>



<p>Blockchain compliance firm Elliptic has discovered that the funds stolen in the recent $35 million Atomic Wallet hack have been funneled to Sinbad.io, a cryptocurrency mixer linked to North Korea&#8217;s infamous Lazarus Group.</p>



<p>The announcement came on June 5, and it was reported that Sinbad.io had previously laundered over $100 million in cryptocurrencies pilfered by the Lazarus Group.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Analysis of the ongoing Atomic Wallet hack, from our new Investigations Team account <a href="https://twitter.com/Elliptic_Inv?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Elliptic_Inv</a> <a href="https://t.co/gbm3dX34JB" target="_blank">https://t.co/gbm3dX34JB</a></p>&mdash; Elliptic (@elliptic) <a href="https://twitter.com/elliptic/status/1665755755071275024?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 5, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>While the amount sent to Sinbad.io has not been disclosed, Elliptic highlighted that the stolen assets were converted into bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="URL" data-id="https://crypto.news/price/bitcoin/">BTC</a>) and subsequently concealed using the mixer.</p>



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<p>The analytics firm also suggested that Sinbad.io might be a rebranded version of Blender.io, another mixer known for laundering Lazarus Group funds and the first to face sanctions from the US Treasury Department.</p>



<p>On June 3, several Atomic Wallet users reported that their accounts had been compromised, with losses reaching $35 million. The team, however, downplayed the incident, stating that less than 1% of its monthly active users were affected.</p>



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<p>Atomic Wallet team claims to put efforts into recovering the stolen funds. Yet, Elliptic&#8217;s recent findings suggest that recovery may be challenging for many affected users.</p>



<p>Renowned blockchain sleuth @Zachxbt has tracked the transactions associated with the stolen funds from Atomic Wallet. According to the analyst, out of the reported $35 million stolen by the hackers, $1 million belonging to one of the victims has now been recovered.</p>



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Stolen crypto from Atomic Wallet traced to North Korean-linked Mixer

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