Tag Archive for: sleuth

Atomic Wallet hack losses top $35M, on-chain sleuth reports

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At least $35 million worth of crypto assets have been stolen from Atomic Wallet users since June 2, according to an analysis from on-chain sleuth ZachXBT. The five largest losses account for $17 million.

According to Atomic Wallet on Twitter, the cause of the attack is being investigated. Reports have surfaced of tokens being lost, transaction histories being erased, and even entire crypto portfolios being stolen.

An independent investigation carried out by pseudonymous Twitter ZachXBT, known for tracing crypto stolen funds and assisting hacked projects, has found the largest victim lost $7.95 million in Tether (USDT). “Think it could surpass $50m. Keep finding more and more victims, sadly,” commented ZachXBT.

Screenshot: ZachXBT’s investigation into Atomic Wallet’s hack. Source: ZachXBT on Twitter.

Atomic Wallet claims to have over 5 million users around the world. Cointelegraph spoke with a long-time Atomic’s client who is now a victim of the security breach. “I felt terrible because I am a cybersecurity expert by profession,” said Emre, a Turkish resident who lost nearly $1 million in crypto assets received from bug bounty programs. His stolen tokens include Bitcoin (BTC), Dogecoin (DOGE), Litecoin (LTC), Ethereum (ETH), USDT, USD Coin (USDC), Binance Coin (BNB), and Polygon (MATIC).

“They say they’re looking into it, but they don’t have anything concrete yet,” Emre continued. The funds held at Atomic Wallet were destined for the establishment of a cybersecurity firm in Turkey.

Atomic is a noncustodial-decentralized wallet, meaning users are responsible for assets stored in the application. As usual, its Terms of Service do not accept any liability for on-chain damages suffered by users. “Under no circumstances will Atomic Wallet be liable to you for damages arising out of the services exceeding $50,” says one excerpt.

There has been little…

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