ZachXBT, an on-chain detective, calculated that since June 2, at least $35 million worth of cryptocurrency assets have been taken from Atomic Wallet customers.
On Twitter, Atomic Wallet stated that the attack’s origin is being investigated carefully. There have been reports of token losses, the deletion of transaction histories, and even the theft of whole cryptocurrency holdings.
The biggest victim lost $7.95 million in Tether, according to an independent inquiry conducted by pseudonymous Twitter user ZachXBT, who is recognized for tracking stolen cryptocurrency and supporting compromised organizations. “I believe it might top $50 million. Tragically, keep discovering more victims,” said ZachXBT.
Over 5 million individuals are reportedly using Atomic Wallet globally. A citizen of Turkey who lost roughly $1 million in cryptocurrency obtained through bug bounty programs. Bitcoin, Dogecoin, Litecoin, Ether, USDT, USD Coin, BNB, and Polygon are among the tokens he stole.
The funds stored by Atomic Wallet were intended to be utilized for launching a cybersecurity organization in Turkey.
Users are in charge of the assets held in Atomic since it is a non-custodial decentralized wallet. Its Terms of Service, as usual, disclaim any responsibility for user losses incurred on the chain.
Users haven’t received a lot of information from Atomic Wallet yet. The victim addresses are being gathered by the support staff. To track and freeze the stolen assets, Atomic’s team has contacted significant exchanges and blockchain analytics firms, according to a tweet dated June 4.
Some users in Telegram’s community channels pointed out that the attack could have come from an ineffective dependency package. Dependency packages outline the link between programmatic tasks, the libraries required to carry them out, and the sequence in which they should be completed.
The event is the latest in a long line of cryptocurrency attacks. The Jimbos Protocol’s $7.5 million exploit and a hostile proposal that gained control of Tornado Cash’s governance in May are the two most recent examples. According to Chainalysis research, crypto hackers stole $3.8 billion in total last year, primarily through North Korean-linked assaults that took advantage of decentralized financial protocols.