Atomic Wallet Hack 2023 — $100M Exploit Analysis

Atomic Wallet users lost over $100M to an unknown vulnerability, with Lazarus Group identified as responsible by blockchain investigators.

Details

Full Description

Over 5,500 Atomic Wallet users lost funds in a series of coordinated thefts. The exact attack vector was never publicly confirmed, but investigators suspect a compromised software update or supply chain attack. Elliptic linked the hack to North Korea's Lazarus Group through on-chain analysis of fund flows.

Laundering Analysis

Stolen funds routed through Sinbad mixer (a successor to Blender.io, itself a Lazarus-linked mixer). Multiple chains involved: BTC moved through Bitcoin mixers, ETH through Tornado Cash. Some funds converted via centralized exchanges using stolen KYC identities. Approximately $1M frozen by Tether.

Sources

Transaction Hashes

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