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 <p>A non-custodial crypto wallet called Atomic Wallet suffered a massive $100 million loss in a hack in mid-June.</p> 
 <p>The security breach affected at least 5,500 accounts, according to reports.</p> 
 <p>Now, a group of crypto investors with combined losses exceeding $12 million have banded together to sue the wallet provider.</p> 
 <h2 id="who-is-suing-atomic-wallet">Who is Suing Atomic Wallet?</h2> 
 <p>The group comprises 50 individuals, including high-net-worth investors from Russia and the Commonwealth of Independent States (CIS).</p> 
 <p>A German lawyer, Max Gutbrod, and Boris Feldman, the co-founder of Moscow legal-tech company Destra Legal, represent them.</p> 
 <p>Gutbrod has previously spent over two decades as a partner at Baker &amp; McKenzie in Moscow.</p> 
 <p>He said,</p> 
 <blockquote> 
  <p>We are working on recovering the assets for our clients, and we will be filing a class action against Atomic Wallet. They didn’t give our clients any information about the hack or go to the police to report it.</p> 
 </blockquote> 
 <p>Investors that make up the group have each invested anywhere from $150,000 to $2 million. As for the attackers, they were believed to be the members of the North Korean Lazarus Group.</p> 
 <p>However, according to Feldman, it is more likely that the attack came from a group located in Ukraine.</p> 
 <p>He noted that his company, Destra Legal, is looking into the case alongside Match Systems, a reputable blockchain analytics firm. Feldman added that the investigation has found evidence that Ukrainian hackers are behind the attack.</p> 
 <p>As for Atomic Wallet’s CEO, Konstantin Gladych, they said that the company is cooperating with several law enforcement agencies, including those from Kazakhstan and Estonia.</p> 
 <p>These agencies are involved because some of the company’s clients are based in these countries, and the local police requested to be included in the investigation.</p> 
 <h2 id="what-is-known-about-the-hack">What is Known About the Hack?</h2> 
 <p>The total amount stolen exceeds $100 million, and hackers needed to be more picky about which coins they would steal.</p> 
 <p>They have taken Bitcoin, Ether, Tether, Dogecoin, Litecoin, Binance Coin, and Polygon.</p> 
 <p>The reasons behind the breach remain unclear, although if Ukrainian hackers were behind the attack, they may have been political.</p> 
 <p>Atomic Wallet did not disclose any specifics yet, as the investigation is ongoing.</p> 
 <p>As for how the attack was conducted, Dyma Budorin, the CEO of a blockchain security company, Hacken, believes the attackers may have used some inherent flaws in the wallet’s design to breach its security.</p> 
 <p>Budorin added that the hack was very vocal, revealing issues with crypto wallets that don’t pay enough attention to building a solid architecture.</p> 
 <p>Budirin also added that it is possible that the hackers derived keys from the transaction data of the wallet’s users.</p> 
 <p>However, it is equally likely that they exploited existing vulnerabilities in its infrastructure.</p> 
 <p>Many have also blamed the wallet for claiming that less than 0.1% of the users were affected, ridiculing the false claim.</p> 
 <h3 id="related-articles">Related Articles:</h3> 
 <ul> 
  <li>Atomic Wallet Hack Exposes $35 Million Crypto Asset Theft</li> 
  <li>Atomic Wallet Hack Connected to North Korean Hacking Group Lazurus</li> 
  <li>THORChain Used in Disguising $35M Loot from Atomic Wallet Hack</li> 
 </ul> 
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Atomic Wallet Faces a Lawsuit Filed by the Victims of a $100 Million Hack

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