Atomic Wallet Shocked After Receiving a $100 Million Lawsuit

• Atomic Wallet suffered a massive attack sometime in June 2023. They lost a whopping $100 million due to the attack.
• Affected users are fighting back with a massive lawsuit. 

Atomic Wallet is a budding crypto wallet that has a substantial number of users. After suffering a massive attack sometime in the middle of the year, it looks like they left their users. Thus, many of them are revolting. Apparently, they are doing so through a massive lawsuit worth $100 million. 

Atomic Wallet Slapped With a $100 Million Lawsuit 

Atomicwallet 

• Atomic Wallet is one of the lesser-known wallets in the crypto industry. At least, it is not as popular as Coinbase and Trust Wallet. However, it doesn’t matter if a wallet is popular or not when cybercriminals are looking to attack. 
• Some months back, the wallet suffered a massive attack that saw as much as $100 million wiped off through the attack. Apparently, the users affected by this attack are not happy with how Atomic Wallet is handling the situation. Hence, they launched a massive lawsuit against the crypto wallet. 
• German lawyer Max Gutbrod and Boris Feldman, co-founder of legal tech firm Destra Legal in Moscow, are in charge of the lawsuit. According to these attorneys, they represent around 50 clients who lost a total of $12 million following the breach of the crypto wallet about two months ago. Furthermore, they plan on working together to launch a successful lawsuit against the crypto wallet. But foremost, they want to recover their client’s funds. Apparently, the way Atomic Wallet is handling the situation is not satisfactory. 

How Did the Attack Happen? 

• The attack on this crypto wallet happened around the middle of the year. That was in mid-June. Moreover, the breach saw as many as 5,500 crypto accounts on the platform getting affected. 
• Since then, many hands point to different cybercriminals. According to the crypto analysis platform Elliptic, they linked the attack to Lazarus Group, a North Korean cybercrime group. Apparently, this group of cybercriminals is known for hacking many crypto protocols and wallets. Nevertheless, there’s no official confirmation about this. 

Near-Silence from Atomic Wallet 

Freepik

• One of the things enraging the affected users is the lack of communication from Atomic Wallet. The crypto storage platform isn’t doing enough to crack down on what happened. In a brief statement, their spokesperson said the attack came from different sources. A virus on user devices, infrastructure breaches, a man-in-the-middle attack, or malicious code injection are the major suspects. 
• However, the executives failed to disclose exactly what happened during the attack. On the other hand, they haven’t made any plans on how to pay back those affected. Hence the current lawsuit against them. 

Conclusion 

Atomic Wallet is a crypto wallet many people use to store their crypto assets. Apparently, they suffered a massive attack that saw many users lose millions of their money. Due to how they are handling the situation, many users are leaning towards lawsuits. German lawyer Max Gutbrod and Boris Feldman, co-founder of legaltech firm Destra Legal in Moscow, are in charge of the lawsuit.