A collaborative effort involving Atomic Wallet, forensic experts, and centralized cryptocurrency exchanges has led to the freezing of $2 million in “suspicious deposits” within the hacked cryptocurrency wallet known as Atomic Wallet. The freeze was initiated in response to user reports of unauthorized transactions from their wallets.
In an announcement made to Cointelegraph on October 19, Atomic Wallet disclosed that it had partnered with blockchain intelligence firms Chainalysis and Crystal to identify and contain the threat. According to reports from Chainalysis and Crystal, the “threat actor” employed sophisticated methods to route the funds onto the Bitcoin blockchain, utilizing bridges and mixers. Notably, a substantial portion of these funds found their way to the Tron blockchain and the Bitcoin network, as highlighted in the report.
Specifically, the report pointed out that the funds were funneled through the Avalanche bridge before making their way to the Tron blockchain. In expressing its gratitude, Atomic Wallet acknowledged the prompt collaboration of centralized cryptocurrency exchanges in freezing assets associated with the reported transactions. This swift response and cooperation played a pivotal role in mitigating the impact of the incident on affected users, as stated in the announcement.
However, Atomic Wallet refrained from divulging further details to Cointelegraph regarding the cryptocurrency exchanges involved and the specifics of the frozen funds. A spokesperson for the firm explained, “We are unable to disclose information about the exchanges implicated in freezing the funds at this juncture, as it is crucial to maintain the integrity of the ongoing investigation. A timeline for the release of additional information has not yet been determined.”
This development follows several months after Atomic Wallet fell victim to a significant hack in June 2023, resulting in the reported loss of millions in stolen crypto assets. Atomic Wallet has not provided explicit clarification regarding the circumstances that paved the way for this breach. In August, a group of affected Atomic Wallet users initiated a class action against the company, which had incurred substantial losses amounting to $100 million due to the breach.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.