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Atomic Wallet Froze Millions Of Dollars! The recent historical decline in Bitcoin’s short-term supply resulted from a cybersecurity event affecting the crypto wallet Atomic Wallet. Also collaborating with major cryptocurrency exchanges, the wallet successfully froze suspicious deposits worth 2 million dollars.
The Wallet shared this development with Cointelegraph on October 19th, acknowledging the help it received from Chainalytics and Crystal in exposing the threat.
Referring to information from Chainalytics and Crystal, Atomic Wallet stated that the person carrying out the threat used various methods, such as bridges and crypto tumblers, to direct funds to the Bitcoin blockchain. Reports from Chainalytics and Crystal showed that the funds finally reached Tron and Bitcoin networks.
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The report highlights that the funds transferred from the Avalanche bridge to the Tron blockchain. The wallet thanked the central cryptocurrency exchanges that cooperated to freeze the assets associated with the reported transactions. They have critically assessed their rapid intervention to mitigate the impact of this disturbing event on affected users.
When asked which cryptocurrency exchanges Atomic Wallet collaborated with, the company avoided providing details with the statement: “At this stage, we cannot share the details of the exchanges where the funds were frozen to preserve the integrity of the ongoing investigation.”
In June 2023, a cyber attack targeted Atomic Wallet, and the attackers stole millions of crypto assets. The wallet did not disclose the vulnerabilities that led to this attack. In response to these events, a group of victim users filed a class-action lawsuit against Atomic Wallet in August.
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