NEWS: Over $35M in #cryptocurrency was stolen from Atomic Wallet, a self-custodial platform. One user suffered an $8M loss in $USDT.
Millions of dollars’ worth of cryptocurrencies were stolen from customers of Atomic Wallet. On Saturday, the project’s developers admitted that their users’ data had been compromised.
Atomic Wallet is a cryptocurrency wallet that works on both mobile devices and desktop computers. Multiple platforms, including Windows, Android, iOS, macOS, and Linux, support the wallet.
Yesterday, the developers of the multichain wallet took to Twitter to announce that they had received reports of account compromises from a small number of users
Over a hundred addresses were compromised, and assets from Bitcoin, Ethereum, Tron, BSC, Cardano, Ripple, Polkadot, Cosmos, Algorand, Avalanche, Litecoin, and Dogecoin were taken.
Early indications point to around $35 million was lost.
The largest single loss amounts to $7.95 million USDT. According to on-chain detective ZachXBT, the five largest losses total $17 million.
Since users’ private keys are encrypted and saved locally on their devices, Atomic Wallet believes this makes their product more secure. However, the latest incident proves otherwise.
In fact, the vulnerability of the wallet was evident since February 2021. That year, auditing company Least Authority raised warning flags, saying Atomic Wallet is “insufficiently secure in protecting user assets and private data.”
