Stolen XRP Tokens Flood Cryptocurrency Exchanges
The consequences of the well-known security breach in the Atomic Wallet are still unfolding, as numerous stolen XRP tokens resurface on leading cryptocurrency exchanges. In early June, a widely-used cryptocurrency wallet became the target of a cyber assault believed to be carried out by the infamous North Korean organization, Lazarus.
A team of experts from Xrplorer, a renowned provider of crypto intelligence, successfully traced the movement of the stolen tokens across various platforms. Their efforts shed light on the ongoing cyber operations and led to the implementation of measures aimed at recovering the misappropriated funds.
The findings of the forensics team were shared on social media, revealing that the hackers employed sophisticated money laundering techniques to obscure their tracks and dispose of the pilfered XRP. They created new accounts to evade blacklists, resulting in millions of tokens flooding exchanges such as KuCoin, Binance, WhiteBIT, OKX, and Huobi.
Atomic wallet hackers are heavily laundering funds today, spawning new accounts to avoid blocklists. We're monitoring and working closely with exchanges to try and seize as much as possible. Still got ~20M XRP left to move. pic.twitter.com/1GdvvB4gmh
— XRP Forensics (xrplorer.com) (@xrpforensics) June 19, 2023
In light of these ongoing developments, the Xrplorer team has provided new details regarding the location of the stolen XRP. It has been reported that the hackers are actively seeking opportunities to sell the stolen funds on various exchanges, resulting in the movement of an additional two million tokens. Research indicates that MEXC could potentially serve as a viable platform for future transactions, as it has reportedly witnessed a decrease in the volume of XRP being utilized. The whereabouts of approximately 18 million XRP tokens remain unknown, and efforts to identify the culprits are still underway.