The funds obtained from the $35 million Atomic Wallet hack are being transferred to a crypto mixer that is favored by North Korea's notorious cyber-hacking group, according to blockchain compliance analytics firm Elliptic. The firm's Investigations Team has traced the funds to the crypto mixer Sinbad.io, which has previously been used to launder over $100 million in crypto assets stolen by North Korea's Lazarus Group.

Elliptic did not specify the amount sent to the mixer but noted that the loot was being exchanged for Bitcoin before being obfuscated through the mixer. Atomic Wallet's chief marketing officer, Roland Säde, stated that the team is working to recover the funds and suggested that victims track the illicit transfers and report them to popular crypto exchanges to prevent the scammers from exchanging their funds.