Atomic Wallet was hacked by hackers and lost more than 35 million USD

by nativetechdoctor
2 minutes read

In May, nearly $60 million worth of cryptocurrency was stolen through scams, bringing the total loss of the crypto industry to more than $489 million in 2023.

According to CoinTelegraph, Atomic Wallet users have been hacked and stolen more than $ 35 million in crypto. Atomic Wallet is a decentralized wallet for storing digital assets, meaning the user is responsible for the assets stored in the application.

On June 3, Atomic Wallet said it was investigating and analyzing the situation after receiving user reports. Cryptocurrency wallet provider Atomic reported that less than 1% of monthly active users were affected by this attack. analysts Atomic is working with blockchain to track and block stolen cryptocurrencies. Many users lost hundreds of thousands of dollars worth of cryptocurrency, including one victim who lost 7.95 million USD of Tether (USDT)

post The wave of complaints under Atomic’s Twitter continued, with some claiming their crypto had been stolen but the wallet provider did nothing to help them at the time. A former Atomic Wallet user shared a similar problem with his wallet 6 months ago, but Atomic only advises users to protect their own passwords and use a seed phrase. ) without providing any treatment.

Atomic Wallet is not open source, which means that not all parts of the Atomic Wallet source code are open to the public. According to Crypto Briefing, open-source wallets are more vulnerable to hacking and copying than centralized wallets, making them an easy target for bad actors.

On May 28, the decentralized finance (DeFi) application Jimbos Protocol had 4,000 ETH (Ethereum) worth about $7.5 million stolen. According to a report by Chainalysis, hackers stole $3.8 billion worth of cryptocurrency by 2022, mainly through attackers believed to be linked to North Korea exploiting DeFi protocols. Another analysis from TRM Labs revealed that while the number of incidents in Q1/2023 remained unchanged, the average number of hacks fell to $10.5 million, compared with nearly $30 million in Q1/ 2022

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