Users of Atomic Wallet Have Over $35m Stolen in Apparent Hack
- Atomic Wallet users have fallen victim to a hack which has resulted in more than $35m worth of assets being stolen.
- Security firm, Least Authority, said in 2021 that it believed the wallet service was not sufficiently secure.
- $1m worth of stolen funds were recovered, and Atomic says it is still investigating the cause of the hack.
Centralized crypto wallet Atomic Wallet has seemingly fallen victim to a security flaw, which has seen more than $35m worth of user deposits to be stolen. The hack has been acknowledged by the company, with its cause still reportedly being investigated. Crypto exploits seem to be back in full swing this year, with 73 individual hacks taking place in Q1 of 2023 alone – compared to 25 the same quarter a year prior.
According to Atomic Wallet, less than 1% of the company’s users have been affected by the exploit. However, large numbers of users took to Twitter to describe that their funds (in the form of Bitcoin, Ethereum, Tether, Doge and more) had gone missing. $1m worth of funds was managed to be recovered, despite some experts saying that this actually further compromises the platform’s security.
For now, the way in which the attack took place is still unknown, but the company had actually been made aware of certain security flaws in the wallet two years ago. Crypto security firm Least Authority reported in February 2021 that it did not consider Atomic Wallet’s infrastructure secure enough to protect user assets. The largest amount lost by a single victim was $8m worth of USDT.
(About Atomic Wallet)
Atomic Wallet is a multi-currency cryptocurrency wallet that provides users with a platform to manage their digital assets. Launched in 2018, Atomic Wallet has gained popularity for its comprehensive features, making it a popular choice among cryptocurrency enthusiasts. One of the key features of Atomic Wallet is its support for a wide range of cryptocurrencies. Users can securely store, manage, and exchange various digital assets, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and many others, all within a single wallet interface.