Atomic Wallet’s Hack Affected Less Than 1% Of Monthly Active Users

Key Points:

• The developers of Atomic Wallet are looking into accusations of large-scale cryptocurrency theft from customers’ wallets, with over $35 million in cryptocurrencies being taken.
• Less than 1% of our monthly active users are currently impacted.
• At the time of writing, a large number of people were still reporting funds lost.

Customers of Atomic Wallet had millions of dollars worth of cryptocurrency stolen from them. On Saturday, the project’s creators confirmed that their customers’ data had been hacked.

According to blockchain sleuth @ZachXBT’s claim, almost $35 million in different tokens were stolen from Atomic Wallet. The highest single loss is $7.95 million USDT. $17 million is the sum of the five greatest losses.

These tokens include Bitcoin (BTC), Ether (ETH), Tether (USDT), Dogecoin (DOGE), Litecoin (LTC), BNB Coin (BNB), and Polygon (MATIC). The greatest stolen stockpile seems to be USDT, which is based on Tron.

According to Atomic Wallet on Twitter, the reason for the assault is being investigated. Tokens have been lost, transaction histories have been deleted, and even whole crypto investments have been taken, according to reports. Less than 1% of the firm’s active users were affected by the monthly attack, according to the company.

@ZachXBT also claims to have assisted a victim in recovering $1 million in lost monies. The recuperation procedure, however, has yet to be revealed.

According to Atomic Wallet’s declaration, several customers are still reporting money losses at the time of writing. The community also criticized the company’s effort to mitigate the harm.

Atomic is a noncustodial-decentralized wallet, which means that users are responsible for the assets held in the program. As is customary, the Terms of Service disclaim any responsibility for on-chain losses experienced by users.

“Under no circumstances will Atomic Wallet be liable to you for damages arising out of the services exceeding $50,” says one excerpt.

The company previously said that it was researching and assessing the incident. As of Monday morning, no information about the assaults had been disclosed. Victims have been requested to fill out a Google Documents form that Atomic Wallet will use to conduct its investigations.

In reality, the wallet’s vulnerability was known as early as February 2021. That year, auditing firm Least Authority raised red concerns, claiming Atomic Wallet is insufficiently secure in securing user assets and private data.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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