![]() ![]() It's possible that the stolen cryptoassets have been co-mingled in wallets that hold the proceeds of past hacks perpetrated by Lazarus Group.The stolen assets are being laundered using specific services, including the Sinbad mixer, which have also been used to launder the proceeds of past hacks perpetrated by the Lazarus Group.The laundering of the stolen cryptoassets follows a series of steps that exactly match those employed to launder the proceeds of past hacks perpetrated by Lazarus Group.This attribution is based on multiple factors, including: Elliptic analysis of the thief’s transactions leads us to attribute this hack to North Korea’s Lazarus Group, with a high level of confidence. Our Investigations Team is also following the transaction trail. Exchanges and other crypto businesses using Elliptic’s tools can identify any deposits originating from the hack. In a June 3rd tweet, the service acknowledged reports of compromised wallets, before confirming that “less than 1%” of users had been impacted.Īt Elliptic, we have identified a large number of victim wallets, allowing the stolen funds to be traced in our software. But we think these four financial centers will be a key part of the evolution of cryptoassets going forward.Įlliptic’s analysis suggests that North Korea’s Lazarus Group is responsible for the theft of cryptoassets suffered by users of Atomic Wallet.Īt least $35 million has reportedly been stolen from users of Atomic Wallet, a non-custodial cryptocurrency wallet service with five million users worldwide. In the ever-changing and fast moving crypto space, nothing is certain. Crypto Capitals: Four Financial Centers Leading the Way on Crypto Regulation ![]() Older People in UK Being Exploited as Money Mules: How Blockchain Analytics Can HelpĪn increasing number of people in their 50s and 60s are being exploited as money mules in the UK, but Elliptic’s tools can tackle this criminality. In this blog, we examine how blockchain analytics tools work, and how they were used to identify key suppliers powering the illicit fentanyl trade in the US. How Blockchain Analytics Uncovered China’s Illicit Fentanyl Trade Elliptic’s Tung Li outlines what this means. Between a Rock and a Hard Place: the Crypto Dilemma faced By Australian Banks and RegulatorsĪUSTRAC has released guidance outlining the risk-based approach to anti-money laundering/counter-financing of terrorism (AML/CFT) regulation.
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