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Atomic Wallet losses about $35 million in a crypto hack

Atomic Wallet losses about $35 million in a crypto hack

With insights from ZachXBT, an on-chain sleuth, from June 2, 2023, crypto assets worth about $35 million were stolen from Atomic Wallet, a non-custodial, decentralised wallet. It is expected that the largest five crypto assets lost were worth about $17 million, stated Cointelegraph. 

According to a Twitter post by Atomic Wallet, the reason behind this theft is being explored. It is believed that the reports also include events such as loss of tokens, removing transaction history and the theft of entire crypto accounts, Cointelegraph added. 

Sources revealed that the fake Twitter account of ZachXBT, created for finding stolen crypto funds and hacked projects, identified that the largest sufferer lost about $7.95 million in Tether (USDT $1.00). “Think it could surpass $50m. Keep finding more and more victims, sadly,” ZachXBT explained. 

“They say they’re looking into it, but they don’t have anything concrete yet,” a Turkish resident mentioned. Furthermore, the Atomic Wallet funds were collected for creating a cybersecurity organisation in Turkey, Cointelegraph concluded. 

(With insights from Cointelegraph)

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