North Korean hackers were likely behind the theft of at least $35 million from a popular cryptocurrency service. Cybersecurity experts shared this assessment in. A recent press release pointing to telltale signs in the strategies and techniques used in the attack.
Atomic Wallet, the victim of the heist, a widely-subscribed cryptocurrency service based in Estonia, allegedly incurred breach in customer accounts over the weekend. While the company has acknowledged the incident, stating that it impacted “less than 1%” of its monthly users, it has yet to comment on the total losses or identify the culprits.
However, the effect of the incident has seen victims pleadly directly to the thieves on Twitter, hoping they show mercy They’ve posted their cryptocurrency addresses and begging for the return of their stolen funds.
Meanwhile, the total amount stolen remains undisclosed, independent cryptocurrency analyst ZachXBT, doubts it might exceed $35 million, as Atomic Wallet continues to conduct its investigation. Earlier this year, the Harmony case occurred which entails laundering of around $100 million.”
The cybercrime group group in North Korea was as well deemed responsible for laundering billions of dollars from banks and cryptocurrency firms over recent years. Some reports, including those from the United Nations, suggest this illicit activity is a significant revenue source for the isolated North Korean regime.
The US administration led by Biden is focusing on strengthening defenses against these cyber-attacks and curtailing money laundering activities. As part of this plan is collaborating with allies and private companies internationally to increase the resilience of the financial system
The FBI has been informed about the Atomic Wallet hack and is expected to join the ongoing investigation. The goal is to reveal the culprits and trace the stolen funds, and prevent a future occurrence from happening.