Hassan Maishera
TL;DR
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Atomic Wallet has reportedly lost over $35 million in a recent hack.
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The team is still investigating the cause of the attack.
Atomic Wallet Users Lose Funds In An Attack
Atomic Wallet users have reportedly lost more than $35 million in an attack that began on June 2nd. This is according to an analysis from on-chain sleuth ZachXBT. According to the report, the five largest losses account for $17 million of the total amount.
Update: A new largest victim was found on Tron with 7.95M USDT stolen,
— ZachXBT (@zachxbt) June 4, 2023
The five biggest losses account for $17M.
My graph has now surpassed $35M in total stolen. pic.twitter.com/eqfXkm9vlL
The Atomic Wallet team said they are currently investigating the cause of the attack. So far, some users have reported tokens being lost, transaction histories erased, and crypto portfolios being stolen.
The pseudonymous Twitter ZachXBT pointed out that the losses could surpass $50 million as more victims come fund. The largest loss saw the user lose $7.95 million in Tether (USDT)
Atomic is a noncustodial-decentralized wallet. Unlike centralized crypto wallets, noncustodial-decentralized wallets allow users to be in charge of the stored assets. Similar to other noncustodial wallets, Atomic Wallet does not accept any liability for on-chain damages suffered by users.
The Atomic Wallet team has provided little information to users so far. The support team pointed out that it is currently collecting victim addresses. The team has also reached out to major exchanges and blockchain analytics companies to trace and block the stolen funds.
Hacks have become a significant nuisance in the cryptocurrency space. A few weeks ago, Jimbos Protocol lost $7.5 million in an exploit. An attacker also took over the Tornado Cash DAO two weeks ago using a malicious proposal.
According to a Chainalysis report, crypto hackers stole $3.8 billion from crypto projects and investors last year, with DeFi protocols being the biggest victims.
