The Malaysian Securities Commission has added Atomic Wallet to the list of financial companies that are prohibited from operating in the country. According to the regulator, Atomic Wallet provided digital asset exchange (DAX) services without the necessary registration.

Atomic Wallet previously suffered from a hacker attack in 2023, losing more than $100 million, which made the project the subject of lawsuits. The vulnerability is also linked to the theft of funds, which is attributed to the Lazarus Group hacker group from North Korea.

The list of banned companies in Malaysia, which also includes Crypto Trade Malaysia and BestExchange, highlights the regulator's desire to protect users from unlicensed transactions and fraud.