Crypto Hack: Atomic Wallet Loses Over $35 Million In Security Breach

Atomic Wallet acknowledged the reports of compromised wallets and initiated an investigation.

Atomic Wallet claimed that less than 1 per cent of their monthly active users had been affected.

Source : Freepik

Atomic Wallet, a popular mobile and desktop cryptocurrency wallet used for storing various digital currencies, has recently fallen victim to a security breach. Since June 2, the platform has lost more than $35 million worth of crypto assets. ZachXBT, an expert in analysing blockchain transactions, has been monitoring the funds stolen from Atomic Wallet users. According to ZachXBT, the compromised wallets have resulted in the theft of over $35 million in cryptocurrency. In a recent tweet, ZachXBT highlighted that the largest victim on the Tron network had lost 7.95 million USDT, and the total losses from the top five victims amounted to $17 million.

Atomic Wallet acknowledged the reports of compromised wallets and initiated an investigation. Last week, the company tweeted that they were actively working to analyse the situation. They also assured users that they would provide updates as soon as they had more information. In a recent tweet, Atomic Wallet mentioned that less than 1 per cent of their monthly active users had been affected or reported compromised wallets. The most recent drained transaction occurred over 40 hours ago.

The company stated that the security investigation is ongoing, and they are collaborating with major exchanges and blockchain analytics firms to trace and block the stolen funds. By sharing victim addresses with these entities, Atomic Wallet aims to prevent further unauthorised transfers.

In related news, a recent report revealed that hackers had managed to steal over $400 million from various cryptocurrency projects through 40 attacks in the first quarter of 2023 in the United States. However, the amount lost in Q1 of 2023 decreased by 70 per cent compared to the same period in 2022, according to TRM Labs, a blockchain intelligence firm.

The security breach at Atomic Wallet underscores the ongoing challenges and risks associated with the storage and management of cryptocurrency assets. Users are advised to remain vigilant, take necessary precautions to safeguard their wallets, and stay informed about potential security vulnerabilities in the crypto space.

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