As per the recent updates, an exploit has been reported by the users of Atomic Wallet who claim that their whole cryptocurrency holdings are completely lost.
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Atomic Wallet Users Report Heavy Losses
It is noteworthy that Atomic is a noncustodial decentralized wallet, which means users are in control of the assets within the program. Many users have left comments on the post alleging losses and claiming that money has been stolen from the digital wallet program.
The website atomicwallet.io reports that Atomic Wallet as a reputable decentralized wallet with more than five million users and a Trustpilot rating with 13,000 reviews. In a tweet on June 3, the Atomic team said:
“We have received reports of wallets being compromised. We are doing all we can to investigate and analyze the situation. As we have more information, we will share it accordingly.”
ZachBTX Investigating the Attack
ZachBTX, which is a renowned on-chain investigator who has a reputation for tracking down hacked money as well as supporting hacker-assisted companies, is also overviewing the investigation.
Although the cause of the hack is still unknown, Wu Blockchain suggested on Twitter that it may have been a supply chain attack, where hackers tamper with the software’s source code before it is downloaded by the users.
More Attackers on the Way
Meanwhile, a lot of scammers have already started flooding Twitter with fake Atomic Wallet refund messages in order to prey on victims. ZachBTX tweeted over this matter saying:
“Be careful, phishing scammers have already started spamming fake Atomic Wallet refund tweets on Twitter to prey on desperate victims.”
Rise in DeFi Attacks
According to a Forbes report which was released in January this year reveals that hacks into cryptocurrency projects this year totaled over $3 billion. The study found that over 125 crypto projects have been hacked. The top five cryptocurrency thefts, all of which utilized decentralized finance (DeFi) technologies, totaled $1.48 billion. Likewise, a security flaw cost the cryptocurrency wallet, Trust Wallet $170,000 in April of this year.
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