Atomic Wallet Faces Backlash After ‘Updating Security Infrastructure’ Without Revealing Cause of $100,000,000 Hack - The Daily Hodl

The Daily Hodl
The Daily Hodl

28 Jun 2023 10:31 PM

Atomic Wallet is facing pushback online after releasing a statement this week that avoided specifics regarding the massive theft of its users' funds earlier this month....

  • Atomic Wallet released a statement regarding the theft of its users' funds, but avoided providing specific details about the incident.
  • The company claims that less than 0.1% of its app users were affected by the hack.
  • Atomic Wallet did not disclose the total amount of funds stolen, the identity of the hackers, or the specifics of the attack.
  • Elliptic, a blockchain analytics firm, estimates that over $100 million worth of crypto was stolen and suggests that the Lazarus Group, a state-sponsored hacking group from North Korea, orchestrated the theft.
  • Atomic Wallet did not mention a reimbursement plan in its statement, but stated that it was working with blockchain analysis firms to track the missing crypto.
  • The company emphasized that it does not store or have access to users' private keys, shifting responsibility for the breach away from itself.
  • Atomic Wallet stated that no new cases have been reported since the initial incident and that its security infrastructure has been updated.
  • Some Twitter users criticized the company for lack of information about a compensation plan and for not providing more details about the hack.

The sentiment of the article is negative overall. The lack of specific details and transparency from Atomic Wallet regarding the theft of funds has led to criticism and suspicion from users and the online community.

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You May Ask

How much of Atomic Wallet's user base was affected by the hack?What are the potential causes of the breach according to Atomic Wallet?How much crypto was estimated to be stolen by Elliptic?Who is suspected to be behind the theft according to Elliptic?What is Atomic Wallet's stance on reimbursement for affected users?

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