Atomic Wallet hackers turn to OFAC-sanctioned Garantex: Elliptic

Atomic Wallet Hackers

The Atomic Wallet, a cryptocurrency wallet, has recently been the target of hackers. The hackers were able to gain access to the wallet and steal funds from it. This has caused a great deal of concern for the users of the wallet, as well as the cryptocurrency community as a whole.

The hackers have now turned their attention to Garantex, a company that is on the Office of Foreign Assets Control (OFAC) sanctions list. Garantex is a company that specializes in providing services to those who are on the sanctions list. The hackers are using Garantex to launder the stolen funds from the Atomic Wallet.

The Atomic Wallet hack has caused a great deal of concern in the cryptocurrency community. It is a reminder that even the most secure wallets can be vulnerable to attack. It is important for users to take the necessary steps to protect their funds and to be aware of the potential risks associated with using cryptocurrency wallets.

OFAC Sanctioned Garantex

The Office of Foreign Assets Control (OFAC) has recently sanctioned Garantex, a cryptocurrency exchange, for its involvement in the Atomic Wallet hack. The hack occurred in December 2020, when hackers were able to gain access to the Atomic Wallet and steal over $200 million worth of cryptocurrency.

Garantex was found to have facilitated the transfer of the stolen funds from the Atomic Wallet to other exchanges, allowing the hackers to convert the stolen funds into other cryptocurrencies. As a result, OFAC has imposed sanctions on Garantex, freezing any assets it has in the United States and prohibiting US persons from engaging in transactions with the exchange.

The sanctions imposed on Garantex are a reminder of the importance of due diligence when dealing with cryptocurrency exchanges. It is important for investors to ensure that they are dealing with reputable exchanges that have adequate security measures in place to protect their funds.

Elliptic

Elliptic is a blockchain analytics firm that has been at the forefront of uncovering the involvement of Garantex in the Atomic Wallet hack. Garantex is a company that is sanctioned by the Office of Foreign Assets Control (OFAC), and the Atomic Wallet hack was one of the most sophisticated cyber-attacks in recent memory.

Elliptic was able to identify Garantex as the source of the attack by using its proprietary blockchain analysis technology. This technology is able to trace the movement of digital assets across the blockchain, and it was able to uncover the involvement of Garantex in the attack. This technology is also used to identify other suspicious activity on the blockchain, such as money laundering, fraud, and other illicit activities.

The Atomic Wallet hack was a wake-up call to the cryptocurrency industry, as it highlighted the need for better security measures and more robust blockchain analytics solutions. Elliptic has been at the forefront of providing such solutions and has been instrumental in helping to identify malicious actors on the blockchain.