Atomic Wallet Freezes $2M in Dubious Deposits Post Major Cyber Attack
Summary:
Atomic Wallet, in collaboration with leading crypto exchanges, has frozen $2 million in suspicious deposits, following assistance from blockchain intelligence firms Chainalysis and Crystal. The funds were routed to the Bitcoin and Tron blockchains using advanced methods. The swift cooperation from central cryptocurrency exchanges was pivotal in mitigating the incident's impact. This follows a major hack Atomic Wallet suffered in June 2023, resulting in substantial losses.
In a collaborative effort with leading cryptocurrency exchanges, the hacked digital currency wallet, Atomic Wallet, has locked down $2 million in dubious deposits. On 19th October, Atomic Wallet revealed that blockchain intelligence companies, Chainalysis and Crystal, have been instrumental in identifying and neutralizing the threat. According to insights provided by Chainalysis and Crystal, the funds were stealthily routed to the Bitcoin blockchain by the perpetrator using advanced techniques such as bridges and mixers. The bulk of the funds were ultimately discovered on the Tron blockchain and Bitcoin network, the report confirmed. It was particularly noted that the funds were shifted via the Avalanche bridge and further transferred to the Tron blockchain.
Atomic Wallet conveyed deep appreciation for the immediate and cooperative response from the central cryptocurrency exchanges in freezing the assets connected to the suspicious activities, a collaborative response which significantly reduced the impact of the security breach affecting some users. Any requests for additional information about the issue from Atomic Wallet have not been answered as of yet.
The recent incident occurred just a few months after Atomic Wallet was subjected to a significant cyber attack in June 2023, with the platform reported to have suffered a massive loss due to theft of crypto assets. However, Atomic Wallet didn't specify the exact circumstances leading to the security breach. In August, several Atomic Wallet users, who were victims of the hack, reportedly initiated a group litigation against the firm, following a major security violation that resulted in losses amounting to $100 million.
Published At
10/19/2023 2:19:45 PM
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