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

Generated by AI, curated by humans

Jun 6, 11:55 am

Decrypt

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.

Latest

Mar 27, 6:05 am

Decrypt

India Arrests Alleged Kingpin in Myanmar Crypto Cyber-Fraud Trafficking Network

Sunil Nellathu Ramakrishnan, a key figure in a transnational trafficking network, was arrested by India's Central Bureau... Read Summary

Mar 27, 5:07 am

Decrypt

Rising Treasury Yields Put Pressure on Bitcoin

Bitcoin is trading in a narrow range near $68,000 despite a rise in U.S. Treasury yields, which have climbed to around 4... Read Summary

Mar 26, 10:57 pm

Decrypt

Trump Crypto Czar David Sacks Steps Down With Key Legislation Still Pending

David Sacks is stepping down from his role as the White House’s AI and crypto czar after reaching the 130-day limit. He... Read Summary

Mar 26, 7:47 pm

Decrypt

Investor Bo Shen Offers Bounty in Recovering $42 Million in Stolen Crypto Assets

Bo Shen, founder of Fenbushi, offers a 10-20% bounty for help recovering $42 million in stolen Bitcoin, Ethereum, and st... Read Summary

Mar 26, 7:32 pm

Coindesk

OKX Prioritizing Shareholder Value, Long-Term Returns Over Rushing Into the US Public Markets

OKX, a global crypto exchange, is cautious about entering the U.S. public markets despite recent strategic investments a... Read Summary

Mar 26, 7:18 pm

Decrypt

Ripple Enhances XRP Ledger Security With AI Tools

Ripple has introduced an AI-driven security upgrade for the XRP Ledger, with a red team uncovering over 10 bugs. The com... Read Summary

Mar 26, 6:21 pm

Decrypt

Retail Investors Show Growing Interest in Bitcoin Giant Strategy's STRC Preferred Share Over MSTR

Retail investors are increasingly favoring Strategy's preferred share over common stock, with individuals holding 80% of... Read Summary

Mar 26, 4:26 pm

Decrypt

UK Government Sanctions Xinbi for Aiding Scam Centers With Crypto Services in Southeast Asia

Xinbi, a major illicit marketplace in Southeast Asia, has been sanctioned by the UK government for providing cryptocurre... Read Summary

Mar 26, 4:07 pm

Decrypt

Brazilian Law Now Permits Seizing Digital Assets From Criminals to Fight Organized Crime

The recently passed "Anti-Gang Law" in Brazil allows authorities to seize digital assets from criminals to combat organi... Read Summary

Mar 26, 2:45 pm

DL News

Coinbase Challenges UK Political Crypto Donation Ban, Citing Transparency and Foreign Influence Concerns

Coinbase criticizes the UK government's ban on crypto donations, stating it fails to address legitimate concerns about t... Read Summary

Mar 26, 2:53 pm

Decrypt

Tether's XAUT Token Backed by Physical Gold Now Available on BNB Chain

Tether has launched its gold-backed token XAUT on BNB Chain, connecting the ecosystem to the largest gold-backed token w... Read Summary

Mar 26, 2:43 pm

Decrypt

MARA Holdings Sells Bitcoin to Reduce Debt and Improve Financial Standing

MARA Holdings sold 15,000 Bitcoin for $1.1 billion to repurchase convertible debt, leaving them with 38,700 BTC. The mov... Read Summary

Mar 26, 2:02 pm

Coindesk

Citi Analysts Foresee Potential Setbacks for Circle Due to Proposed Stablecoin Reward Limits

Citi analysts believe the proposed limits on stablecoin rewards in the U.S. market legislation draft could impact Circle... Read Summary

Mar 26, 1:10 pm

Decrypt

Bhutan's Bitcoin Holdings Have Fallen by 66% Since Late 2024

Bhutan has transferred over 500 BTC worth $36.75 million, reducing its holdings by 66% from late 2024. The country now h... Read Summary

Mar 26, 12:08 pm

Decrypt

Fannie Mae Partners With Coinbase to Offer Crypto-Backed Mortgages With Bitcoin or USDC

Fannie Mae will now accept cryptocurrency-backed mortgages, allowing buyers to use Bitcoin or USDC as collateral. Borrow... Read Summary