Komodo

Secure

Million

Read

<p class="is-style-lead">Atomic Wallet users have lost over $35 million worth of cryptocurrencies due to a recent security breach on the platform. </p>



<p>Atomic Wallet, a mobile and desktop cryptocurrency wallet, is grappling with a significant security incident. The platform has acknowledged reports of compromised wallets and has initiated a thorough investigation into the matter. </p>



<p>In a tweet, Atomic Wallet has assured its users that they are actively working to analyze the situation and gather more information.</p>



<blockquote class="wp-block-quote">
<p>&#8220;We have received reports of wallets being compromised. We are doing all we can to investigate and analyze the situation. As we have more information, we will share it accordingly.&#8221;</p>
<cite>Statement by Atomic Wallet</cite></blockquote>



<p>Renowned blockchain sleuth @Zachxbt says he has been tracking the transactions associated with the stolen funds from Atomic Wallet. </p>



<p>According to his analysis, the losses currently stand at $35 million in various cryptocurrencies. The largest individual victim identified thus lost 7.95 million USDT on the Tron blockchain. In total, the five most significant losses accounted for $17 million.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Some things to note about this hack.<br><br>Largest single victim I have observed is for 2.8M USDT.  Multiple other losses for 6 figures across different chains. <br><br>Thanks to all of the victims who have messaged me their transaction hash.   The root cause is still tbd. <a href="https://t.co/4sybXUrXBo" target="_blank">https://t.co/4sybXUrXBo</a> <a href="https://t.co/or2b3eMvIs" target="_blank">pic.twitter.com/or2b3eMvIs</a></p>&mdash; ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1665080799253733377?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 3, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>Atomic Wallet&#8217;s security team is actively engaged in an ongoing investigation to identify the perpetrators behind the hack and trace the stolen funds. The company claims it has taken steps to report victim addresses to significant exchanges and blockchain analytics services to aid in blocking and recovering the stolen assets.</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            You might also like:
        </span>

    
    
        <a href="https://crypto.news/komodo-wallet-hacks-secure-13-million/" class="cn-block-related-link__link">
            Komodo Wallet Hacks Itself to Secure $13 Million Users Funds from Fraudsters        </a>

    
</div>


<p>To mitigate further risks, Atomic Wallet has urged its users to transfer their funds to alternative wallets if they still rely on Atomic Wallet for storage and management. This precautionary measure protects users from potential security vulnerabilities while the investigation unfolds. </p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">We have received reports of wallets being compromised. We are doing all we can to investigate and analyse the situation. As we have more information, we will share it accordingly.<br><br>For any questions and concerns, contact support@atomicwallet.io</p>&mdash; Atomic &#8211; Crypto Wallet (@AtomicWallet) <a href="https://twitter.com/AtomicWallet/status/1664946301815910400?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 3, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading" id="web3-needs-better-security-measures">Web3 needs better security measures&nbsp;</h2>



<p>The Atomic Wallet security breach is a stark reminder that even established platforms can face security vulnerabilities. However, recent data from Beosin EagleEye, a blockchain analytics and security platform, indicates a <a href="https://crypto.news/web3-hacks-declined-in-may-despite-a-19-7m-loss/">decline in rug pulls</a> and scams within the web3 industry during May 2023. </p>



<p>The Atomic Wallet hack serves as a reminder that the cryptocurrency ecosystem is not impervious to security threats. As the industry evolves, it becomes increasingly crucial for wallet providers and exchanges to prioritize user security. </p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe title="Top 5 Crypto Hacks +Tips to avoid!" width="1020" height="574" src="https://www.youtube.com/embed/CajfFDmoFAo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<p>Implementing robust security protocols, conducting regular audits, and fostering transparency are vital steps toward fortifying the ecosystem and safeguarding user funds.</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            Read more:
        </span>

    
    
        <a href="https://crypto.news/crypto-hacks-decreased-by-70-in-q1-2023-research-reveals/" class="cn-block-related-link__link">
            Crypto hacks decreased by 70% in Q1 2023, research reveals        </a>

    
</div>

Atomic Wallet security breach causes over $35 million in losses

Table of Contents

crypto.news

Other articles published on Jun 5, 2023

Binance Executive Exerted Strict Financial Control Over US Arm:

40X Potential HIDDEN Crypto Gems

Binance CEO CZ Issues First Response to SEC Litigation

SEC sues Binance and CZ for securities violations

Altcoin Giants Poised for Growth as Valuation Metrics Indicate Undervaluation

Atomic Wallet has been hacked

Join our free newsletter for daily crypto updates!