- Atomic Wallet faced concerns and questions after a $35 million crypto heist.
- The company released an official statement highlighting swift actions, engagement of investigators, and cooperation with exchanges.
- No specific cause for the breach has been confirmed; investigation ongoing.
After Atomic Wallet released its statement on the June 3rd event, concerns and questions were raised by the Twitter community regarding the recent $35 million crypto heist that brought the multi-currency platform into the spotlight for decentralized wallet security.
In the aftermath of the incident, Atomic Wallet tweeted their official statement. They detailed the swift actions taken to tackle the situation, the engagement of major crypto investigators Chainalysis and Crystal, and cooperation with major exchanges to trace the stolen funds.
Despite the company’s efforts, skepticism persists as some Twitter users express dissatisfaction with the provided information, specifically about the extent of affected users, which was reported as “less than 0.1%.” A user named Benedict Hames responded to the tweet, calling it a “huge lie” and demanding transparency.
Atomic Wallet has assured its users that less than 0.1% of its app users have been affected by the incident, and no new cases have been reported since June 3rd. At present, no specific cause has been definitively linked to the security breach. The company has also emphasized that it does not store or have access to users’ private keys, making the investigation of the root cause more complex.
The wallet’s software application allows users to manage their crypto assets locally, with funds stored solely on the blockchain. However, Atomic Wallet stressed the importance of safeguarding seed phrases, stating,
Anyone who has access to a user’s seed phrase may import it to any other similar wallet app and get access to funds.
Zilliqa Discovery, a Layer 1 blockchain, shared their perspective, saying, “My impression of this tweet is there’s no evidence of any internal breaches and most likely the hack was on the end user side, like I’ve been saying since day one.”
The investigation is ongoing, and no specific cause for the breach has been confirmed to date. Atomic Wallet has updated its security infrastructure and urges users to keep their wallet apps up to date.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
