Atomic Wallet Users Have Been Hacked $100 Million

Atomic Wallet

Atomic Wallet, the famed noncustodial decentralized wallet, has been hit with a pretty staggering exploit, which has led users to report losses of entire portfolios of cryptocurrency.

This breach has, naturally, sent several shockwaves throughout the entire crypto community, as the fundamental premise for the wallet relies on the users assuming full responsibility for the security and storage of their assets. The losses from the heist have already skyrocketed to over $100 million, according to an analysis which was conducted by Elliptic.

This alarming figure has also highlighted the attack’s severity, which further compromised an estimated 5000 crypto wallets. Interestingly, despite the severity of the incident, the company has yet to dole out any explanation regarding the root cause of the losses. 

Atomic Wallet Seems To Be Reeking Of Inaction 

The inaction from Atomic Wallet has led to increasing concerns from several frustrated users who have been waiting for the clarification anxiously. Meanwhile, the last Twitter update from the company was on 7th June. The frustrated users of the wallet have already taken to Twitter to express their grievances at the way the company had been dealing with this issue. Ezra Carlson, a Twitter user, tagged the company asking why the company wasn’t providing anyone with a straight answer. The user further asked that the company should have warned others that it was not safe to use the wallet when it was being hacked, for they knew all about it. 

On 3rd June, Atomic Wallet went on to acknowledge the many reports of compromised wallets in a tweet, but then completely downplayed the impact. They claimed that less than 1% of the user base had been affected by this hack.