beginingBlockchainAnalyzesAtomic Wallet Exploited, Users Report Loss of Entire Wallets

    Atomic Wallet Exploited, Users Report Loss of Entire Wallets

    Several users have reported losses of crypto assets, claiming that funds held in the Atomic Wallet app have disappeared.

    Atomic Wallet has reportedly been exploited, with users reporting complete losses of their crypto wallets. Atomic is a decentralized, non-custodial wallet, meaning that users are responsible for the assets stored in the application.

    “We have received reports of compromised wallets. We are doing our best to investigate and analyze the situation. As we have more information, we will share it accordingly,” the Atomic team said in a tweet on June 3.

    Several users commented on the post reporting losses, claiming funds were deleted from the digital wallet app. Chainkeeper ZachBTX — known for tracking stolen funds and helping hacked projects — is involved in the investigation. At the time of writing, it is unclear how the attack was carried out. Atomic claims to have over 5 million users.

    Twitter users have also reported that funds in the Atomic Wallet app have been stolen in the past. “This happened to my BTC 6 months ago with Atomic. They just replied back to defend your pw, opening phrase, blah blah… I told them it was NOT even possible! All I do is use U to exchange and then move crypto. My answer to them, I won't use U again then! Now I was right!” one user wrote in response to the post. The attack joins a growing list of crypto hacks carried out every week. On May 28, the Jimbos Protocol application for decentralized finance (DeFi) was exploited, causing the loss of 4,000 EtherETH tickers down to $1,845, worth about $7.5 million. Tornado Cash, a decentralized crypto mixer, was also recently hacked. On May 20, a hacker successfully cast 1.2 million votes on a malicious proposal, gaining full control over the management of the protocol.Crypto hackers stole around $3.8 billion last year, mainly through North Korea-linked attackers exploiting DeFi protocols, according to a report of Chainalysis. Another analysis from TRM Labs revealed that while the number of incidents in Q1 2023 remained the same, the average hack size fell to $10.5 million from nearly $30 million in Q1 2022. “Unfortunately, this slowdown most -likely to be a temporary blip rather than a long-term trend,” TRM Labs noted, warning that just a few large-scale attacks could tip the scales again.

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