Atomic Wallet Declares That Less Than 0.1% Of Users Affected By Attack

Key Points:

• Atomic Wallet detailed the June 3 hack with only 0.1% of users affected.
• However, many users still want more answers because this number is not reasonable.
• The wallet hack resulted in an estimated loss of $100 million.

Finally, Atomic Wallet, the project that was recently attacked, has confirmed to users the project’s problem, causing users to lose up to $100 million.

Atomic Wallet provided an update on the June 3 assault, using that fewer than 0.1% of Atomic app users were compromised and that no further complaints have been received since then.

To trace down and freeze questionable transfers, the team will continue to collaborate with crypto detectives, regulators, and exchanges. The next will be to create a legal structure for recouping monies and distributing them to contribute to stage users.

Atomic Wallet did not specify what caused the vulnerability, simply describes the four most likely sources, which were a virus on user devices, an infrastructure compromise, a man-in-the-middle attack, or malware code injection.

However, none of the underlying flaws have been proven to produce a large-scale breach, at least in the most recent version of the software. According to the project team, applications have been evaluated by external auditors, and security infrastructure has been upgraded.

Moreover, Atomic Wallet said that an app update to improve security is in the works and has been confirmed by external auditors.

Several portions of the declaration, however, have raised concerns. Some users doubted the authenticity of the statement, others considered 0.1% as a farce while the damage of the hack was too great.

On June 15, MistTrack claimed that North Korean hackers were laundering stolen money from Atomic. To launder money, they deployed a variety of smart contracts. The money laundering method utilized was the same as in the Harmony cross-chain bridge hacking incident.

Elliptic estimates that the losses from the Atomic Wallet robbery have now topped $100 million. This sobering statistic highlights the intensity of the hack, which affected an estimated 5,500 cryptocurrency wallets.

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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