Atomic Wallet, a popular cryptocurrency wallet available on various platforms, has recently fallen victim to a significant security breach, resulting in the theft of millions of dollars’ worth of cryptocurrencies.
This article explores the details of the incident, including the compromised assets, estimated losses, and previous warnings about the wallet’s security vulnerabilities.
Key Points:
- Atomic Wallet Compromised: Atomic Wallet, a versatile cryptocurrency wallet compatible with multiple platforms, has acknowledged a security breach that led to the compromise of user data. The incident came to light when several users reported account compromises.
- Wide Range of Assets Stolen: The breach impacted over a hundred addresses, resulting in the theft of various cryptocurrencies, including Bitcoin, Ethereum, Tron, BSC, Cardano, Ripple, Polkadot, Cosmos, Algorand, Avalanche, Litecoin, and Dogecoin. The extent of the damage suggests significant losses for affected users.
- Estimated Losses: Preliminary assessments indicate that approximately $35 million worth of cryptocurrencies were stolen in the breach. Among the largest losses reported is $7.95 million in USDT, with the five most substantial losses amounting to a combined $17 million.
- Encryption Misconception: Atomic Wallet had previously emphasized the security of its product, highlighting the encryption and local storage of users’ private keys as an added layer of protection. However, this recent breach demonstrates the vulnerability of the wallet’s security measures.
- Prior Warnings: In February 2021, auditing company Least Authority raised concerns about Atomic Wallet’s security protocols, describing them as insufficient in safeguarding user assets and private data. This incident validates those earlier warnings and raises questions about the wallet’s overall security posture.
