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Weekend hack sees Atomic Wallet users lose $35 million| what we know so far

By:
on Jun 5, 2023
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  • The hack started on June 2 and has so far affected more than 1% of the monthly wallet users.
  • Verified scam Twitter accounts impersonated the wallet and shared phishing links claiming to help users.
  • Atomic Wallet along with individual blockchain investigators tracking the stolen funds

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Atomic Wallet users have lost more than $35 million in crypto assets in a hack that started on June 2. According to a tweet posted by the company in the early hours of Monday, at least 1% of monthly users have so far been impacted.

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https://twitter.com/AtomicWallet/status/1665550651735023616?s=20

How did the Atomic Wallet hack go down?

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While Atomic Company has stated that they have amped up efforts to track and revert back the stolen crypto assets, the hack has caused a lot of confusion among crypto wallet users seeing that Atomic wallet is one of the most used crypto wallets.

The hack was first reported by a Pseudonymous on-chain researcher @ZachXBT on Twitter. The researcher has also claimed to help a victim recover $1 million, although the recovery has not yet been disclosed.

According to the tweet thread by @ZachXBT, the tokens among the stolen funds include Bitcoin (BTC), Tether (USDT), BNB Coin (BNB), Polygon (MATIC), and Litecoin (LTC). According to disclosed transactions, tokens on Tron seem to be the most affected.

According to the sleuth researcher, the largest victim was found on Tron with 7.95M USDT stolen.

Atomic in a tweet earlier today has stated that the “last drained transaction was confirmed over 40 hours ago.” However, the social space is awash with victims claiming to have lost all their crypto savings and the impact could be much larger than reported. The community has also called out Atomic for trying to water down the real impact of the hack.

Unfortunately, several verified scam Twitter accounts impersonated Atomic Wallet to cash in on the commotion and shared phishing links claiming to help victims recover lost funds.

Few specifics of the attack so far

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Apart from the revelation made by @ZachXBT and the few tweets by Atomic Wallet saying they are investigating and analyzing the hack, there are no official specifics from the company so far.

Users on Atomic Wallet’s official Telegram channel stated that the hack started after a recent software update.  However, some users have said their funds have been drained despite not updating to the latest software update.

Victims have however been asked to submit information on a Google Docs form that Atomic Wallet will use in its ongoing investigations.

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