April 19, 2024
Atomic Wallet Halts $2M in 'Suspicious Deposits' on Exchanges
Latest Cryptocurrency News

Atomic Wallet Halts $2M in ‘Suspicious Deposits’ on Exchanges

Hacked cryptocurrency wallet Atomic Wallet, in cooperation with major cryptocurrency exchanges, has taken action to freeze $2 million in “suspicious deposits.” This joint effort was announced on October 19, with Atomic Wallet revealing that it received assistance from blockchain intelligence firms Chainalysis and Crystal in identifying and containing the potential threat.

According to reports from Chainalysis and Crystal, the “threat actor” employed sophisticated techniques to move the funds to the Bitcoin blockchain, utilizing bridges and mixers. Ultimately, most of the funds ended up on the Tron blockchain and the Bitcoin network.

The report specifically noted that the funds were routed through the Avalanche bridge before reaching the Tron blockchain. In response to this development, Atomic Wallet expressed its gratitude to centralized cryptocurrency exchanges for their prompt collaboration in freezing assets associated with the reported transactions. Their swift response and cooperation played a crucial role in mitigating the impact of the incident on some users, as stated in the announcement.

This news follows a significant hack suffered by Atomic Wallet back in June 2023, during which the platform reportedly lost millions in stolen cryptocurrency assets. Atomic Wallet did not provide specific details regarding the conditions that led to the exploit.

In August, a group of affected Atomic Wallet users initiated a class action against the company, which had experienced a major breach resulting in losses of $100 million.

Image By vecstock

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