Key Points

  • A crypto hack happened against Atomic crypto wallet, with at least $35 million being stolen.
  • Experts believe that North Korea could be involved with the hack as they are a major suspect in crypto hacks for a long time

Atomic Wallet falls prey to North Korean hackers?

Atomic Wallet was hacked last week losing upwards of $35 million. Now, North Korea seems to have been caught in another crypto hacking controversy as experts believe that it could be the perpetrator. A report by CNN outlines that the hackers drained crypto assets from the accounts of several customers of Atomic Wallet, an Estonia-based company with 5 million users.

Atomic Wallet reported on Saturday that less than 1% of its monthly users appeared to have been affected by the hack. However, it did not outline the specific amount of money that might have been stolen or who was behind the hack.

This hack was a series of cyber attacks against crypto projects linked to Pyongyang. U.S. officials fear these funds are being used to fund several unregulated projects in North Korea, like the nuclear and ballistic weapons programs.

North Korean hackers have been notoriously terrorizing the crypto industry with billions of dollars most likely to have ended up in their pockets. The recent hack against Atomic Wallet might prove to be one of their ‘paydays’ as Elliptic, a crypto-tracking firm, has uncovered the money laundering techniques and tools that North Korea-linked hackers have been seen to use before.

While no hard proof is found yet to incriminate North Korea or most other hackers, crypto developers can only work to outsmart them and keep funds safer. Keep watching Fintech Express for updates on crypto and other Fintech-related news.