Atomic Wallet Parent Company Seeks Dismissal of $100 Million Lawsuit, Citing Jurisdictional Challenge
The parent company of Atomic Wallet, a popular cryptocurrency wallet, has filed a motion in a United States court seeking the dismissal of a class action lawsuit....
- The parent company of Atomic Wallet has filed a motion to dismiss a class action lawsuit seeking $100 million in damages.
- The lawsuit claims that the company failed to protect user funds after a major hack.
- Atomic Wallet argues that the claims should have been filed in Estonia, where the company is headquartered.
- The company claims to have no significant ties to the United States and states that its end-user license agreement requires litigation to be pursued in Estonia.
- Atomic Wallet claims that affected users agreed to terms of service that include a disclaimer of liability for theft-related losses and a cap on damages at $50 per user.
- The company denies negligence claims and allegations of fraudulent misrepresentation.
- The class action was initiated two months after the $100 million exploit on Atomic Wallet, affecting approximately 5,500 users.
- There are speculations about the involvement of hacking groups from other countries in the attack.
- Raft, Poloniex, and dYdX have also experienced crypto hacks and security incidents resulting in significant losses.
The sentiment of the article is mostly negative, focusing on the class action lawsuit against Atomic Wallet and the various crypto hacks and security incidents.