Atomic Wallet users lose over $100M to North Korean hackers

by Jun 14, 2023CryptoNews0 comments

Atomic Wallet, a decentralized wallet that allows users to store their own crypto assets, has suffered a massive exploit that resulted in users losing their entire crypto portfolios. The attack has shocked the crypto community, as Atomic Wallet claims to offer a secure and user-friendly way to manage crypto funds.

The attack has been traced to the Lazarus Group, a notorious hacking group linked to North Korea, which has been responsible for stealing over $2 billion in crypto assets through various thefts. According to Elliptic, a blockchain analysis company, this is the first time a major crypto heist has been openly attributed to the Lazarus Group since their successful $100 million exploit of Horizon Bridge in June 2022.

The losses from the Atomic Wallet heist have now reached over $100 million, according to Elliptic. This alarming figure shows the extent of the breach, which affected an estimated 5,500 crypto wallets. Atomic Wallet has not provided any explanation for the root cause of the losses, nor any assurance for the affected users. The company’s last update on Twitter was on June 7.

Many Atomic Wallet users have expressed their frustration and anger on Twitter, accusing the company of negligence and lack of communication. Some users have reported losing their entire life savings to the hackers. Others have questioned why Atomic Wallet did not warn them about the hack, knowing that it was happening.

Atomic Wallet acknowledged the reports of compromised wallets on June 3, but downplayed the impact, stating that “less than 1%” of their user base had been affected. However, the staggering sum of the losses suggests a significant breach that may have compromised the security and reputation of Atomic Wallet.

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