Illicit funds from the $35 million Atomic Wallet hack have reportedly been laundered through Russian-based crypto exchange Garantex, which was sanctioned by the US Office of Foreign Assets Control (OFAC) in April 2022. The North Korean hacking group, Lazarus, is believed to be behind the attack and has used the exchange to trade their assets for Bitcoin (BTC).

Blockchain security and compliance firm Elliptic has worked with exchange partners to freeze the stolen crypto, but the hackers have found other means to trade their assets. The funds withdrawn from Garantex continue to be obfuscated through the Sinbad.io mixer, which was also sanctioned by OFAC in May 2022.