News Explorer — Atomic Wallet Hacker Trading Stolen Crypto for Bitcoin: Report

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Jun 6, 11:55 am

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Atomic Wallet Hacker Trading Stolen Crypto for Bitcoin: Report

Security firm Elliptic Connect has traced the funds from the recent $35 million Atomic Wallet hack to a coin mixing service called Sinbad. Coin mixers enable anonymity in cryptocurrency transactions by randomly mixing crypto transfers to obscure the origin and destination of the funds. Ellpitic’s analysts found that the Sinbad mixer was a clone of a sanctioned mixer, Blender, and Lazarus had laundered over $100 million in stolen funds using Sinbad.

Security firm Elliptic Connect has traced the funds from the recent $35 million Atomic Wallet hack to a coin mixing service called Sinbad. Coin mixers enable anonymity in cryptocurrency transactions by randomly mixing crypto transfers to obscure the origin and destination of the funds. Ellpitic’s analysts found that the Sinbad mixer was a clone of a sanctioned mixer, Blender, and Lazarus had laundered over $100 million in stolen funds using Sinbad.

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