Cyber Attack Hits Atomic Wallet, Users Report Loss of Digital Assets

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Thu, 28 Sep 2023, 10:43 AM
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Cyber Attack Hits Atomic Wallet, Users Report Loss of Digital Assets

Prominent Crypto Platform Faces Breach as Clients Express Shock and Seek Answers

Mon, 05 Jun 2023, 02:51 am UTC

The globally recognized crypto platform Atomic Wallet has fallen victim to a cyber attack, with clients reporting a sudden disappearance of their digital assets. As a non-custodial decentralized purse, the responsibility for safeguarding assets within the app rests with the users.

On various digital platforms, clients are expressing their shock and disappointment over the abrupt vanishing of their funds from the renowned digital wallet service. Distinguished crypto detective ZachBTX, known for his insightful work in tracking down cyber theft and assisting breach victims, is actively involved in the ongoing investigation. Currently, the details of this cyber offensive remain unclear. Atomic Wallet has earned the trust of over 5 million clients.

Unfortunately, this incident adds to the growing list of weekly cryptocurrency breaches. Just a week ago, on May 28, the decentralized finance application Jimbos Protocol fell victim to a cyber intrusion resulting in a loss of 4,000 ETH, valued at approximately $7.53 million. Additionally, Tornado Cash, a notable decentralized crypto mixer, recently experienced a cyber burglary. On May 20, a cybercriminal successfully obtained over 1 million votes for a fraudulent proposal, gaining complete control over the protocol's governance.

According to a report by Chainalysis, cyber thieves amassed a staggering $3.81 billion last year, primarily from DeFi platforms, with links to cyber aggressors in North Korea. However, an alternative report by TRM Labs suggests a slowdown in the frequency of such incidents. Nevertheless, the average value of stolen funds has decreased to $10.52 million, a significant reduction from the nearly $30 million in the first quarter of 2022.

Regrettably, this deceleration is expected to be temporary rather than a sustainable trend, as TRM Labs points out. They caution that just a few major breaches could once again disrupt the balance.

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