Atomic Wallet, which was exposed to a major hacking attempt in June, is on the agenda with new allegations. Altcoin investors claim that the project team kept the incident a secret or even did not report it to the police.
Atomic Wallet faces class action lawsuit
In the June developments, which we quoted as Kriptokoin.com, the updated official website of Atomic Wallet caused security vulnerabilities that led to a loss of $ 100 million. Aggrieved investors soon filed a class action lawsuit against the altcoin project and its team.
Dozens of wealthy investors from Russia and the CIS are part of a class action lawsuit against Atomic Wallet, German media agency bne IntelliNews reported on Aug. 21. Altcoin investors are accusing the Atomic Wallet team of a hundred million dollar hack…
https://twitter.com/bneintellinews/status/169361877716403295
The class action lawsuit is being coordinated by German lawyer Max Gutbrod and Boris Feldman, co-founder of Moscow law technology firm Destra Legal. Gutbrod represents nearly 50 customers who lost a total of $12 million after the hack.
Atomic Wallet suffered a massive $100 million exploit in mid-June 2023. The hack affected at least 5,500 crypto accounts on the platform. Companies like Elliptic later linked the heist to the North Korean cybercrime group Lazarus Group.
“They did not give any information and did not go to the police”
German lawyer Max Gutbrod directed new charges against the Atomic Wallet team in the case where he represented 50 victim users. Accordingly, the altcoin project kept its incident a secret for a long time after the hack. Gutbrod said in his statements:
We are working to recover our customers’ assets and will take a class action lawsuit against Atomic Wallet […] They did not give our customers any information about the hack or go to the police to report it.
1/ EXPLAINED: THE ATOMIC WALLET HACK (JUNE 2023)
Recently, attacks against the wallet’s users netted an attacker🥷over $35 million!💸
— Halborn (@HalbornSecurity) June 14, 2023
Initial reports blame Lazarus for the attack on Atomic Wallet. However, new allegations suggest there may be another culprit. According to the allegations, it is highly likely that a Ukrainian group is behind the hacking attempt. Feldman, co-founder of Destra Legal, states that they “found traces of the involvement of Ukrainian hacker groups”.
Atomic Wallet team leaves altcoin investors in the dark
The Atomic Wallet team did not disclose exactly what circumstances led to this exploit in June. The firm listed only the four most “possible” causes. These include virus, infrastructure breach, man-in-the-middle attack, or malware code injection on user devices. Atomic Wallet also continued to reiterate that less than 0.1% of app users are affected. Shortly after the attack, the cryptocurrency wallet apparently continued to work as usual.
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