Atomic Wallet asks to toss suit over $100M hack saying it has ‘no US ties’
Atomic Wallet sought to dismiss a class action suit in a U.S. court arguing it has “no U.S. ties” and plaintiffs should instead file a lawsuit in Estonia where it's based....
- The company behind Atomic Wallet is asking a US court to dismiss a class action suit seeking damages from a $100 million hack.
- The Estonian firm argues that the claims should have been filed in Estonia, where it is based, as it has "no US ties".
- Atomic Wallet claims that its end-user license agreement requires all litigation to be filed in Estonia.
- The company argues that only one user in Colorado was affected and that the affected users agreed to its terms of service, which disclaims liability for losses due to theft and limits damages to $50 per user.
- Atomic Wallet also argues that the negligence claims lack legal merit as no legal duty was created to maintain its security and protect against hacking.
- Allegations of fraudulent misrepresentation were also rejected by the Estonian-based wallet provider.
- The class action was launched in August, two months after the $100 million exploit on Atomic Wallet, with up to 5,500 users affected.
The sentiment of the article is neutral. It presents the arguments made by Atomic Wallet in its motion to dismiss the class action suit, without expressing a positive or negative opinion.