The wallet developers claim that less than 1 percent of users were affected.
The largest five losses amounted to $17 million.
Atomic Wallet suffered a security breach, resulting in the theft of $35 million in various cryptocurrencies. The siphoning of funds started on June 2, and according to Atomic Wallet developers, less than one percent of its monthly active users were affected.
Hacks Are Targeting Big-Ticket Wallets
The stolen tokens include Bitcoin, Ether, Tether, Dogecoin, Litecoin, Binance Coin, and Polygon. According to an independent blockchain analyst, Tron-based Tether was the largest stolen stash of cryptos, amounting to 7.95 million USDT. The largest five losses amounted to $17 million.
Atomic Wallet provides non-custodial centralized crypto storage and wallet services. It is popular for facilitating the anonymous exchange of dozens of crypto assets. Though the number of users of the wallet platform is unknown, its website claims that it has more than 5 million users.
Another Crypto Hack
The wallet's developers publicly admitted the security breach on June 3, mentioning that: "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."
A consecutive tweet confirmed that the developers were working with third-party security companies to investigate the incident. One of their main focus was to stop the attackers from selling the stolen funds on crypto exchanges.
Though the methodology of the attack is yet to be discovered, some Atomic Wallet users reported that they lost the funds after a software update. However, several pointed out that they never updated their wallet app and still lost crypto holdings. The developers are now seeking information from the victims through a Google Docs form.
Since the breach, the team behind Atomic Wallets has taken down the download servers across all platforms.
The official tweet did not mention the number of victims or verify the stolen amount mentioned by the independent analysts.
Meanwhile, independent researchers are helping the recovery of stolen funds, as one of the victims received $1 million back from the attacker.
Further, scammers are trying to dupe the Atomic Wallet victims. A fraudulent Twitter account with a golden tick surfaced, sharing a phishing link to trap the victims of the Atomic Wallet.
Atomic Wallet suffered a security breach, resulting in the theft of $35 million in various cryptocurrencies. The siphoning of funds started on June 2, and according to Atomic Wallet developers, less than one percent of its monthly active users were affected.
Hacks Are Targeting Big-Ticket Wallets
The stolen tokens include Bitcoin, Ether, Tether, Dogecoin, Litecoin, Binance Coin, and Polygon. According to an independent blockchain analyst, Tron-based Tether was the largest stolen stash of cryptos, amounting to 7.95 million USDT. The largest five losses amounted to $17 million.
Atomic Wallet provides non-custodial centralized crypto storage and wallet services. It is popular for facilitating the anonymous exchange of dozens of crypto assets. Though the number of users of the wallet platform is unknown, its website claims that it has more than 5 million users.
Another Crypto Hack
The wallet's developers publicly admitted the security breach on June 3, mentioning that: "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."
A consecutive tweet confirmed that the developers were working with third-party security companies to investigate the incident. One of their main focus was to stop the attackers from selling the stolen funds on crypto exchanges.
Though the methodology of the attack is yet to be discovered, some Atomic Wallet users reported that they lost the funds after a software update. However, several pointed out that they never updated their wallet app and still lost crypto holdings. The developers are now seeking information from the victims through a Google Docs form.
Since the breach, the team behind Atomic Wallets has taken down the download servers across all platforms.
The official tweet did not mention the number of victims or verify the stolen amount mentioned by the independent analysts.
Meanwhile, independent researchers are helping the recovery of stolen funds, as one of the victims received $1 million back from the attacker.
Further, scammers are trying to dupe the Atomic Wallet victims. A fraudulent Twitter account with a golden tick surfaced, sharing a phishing link to trap the victims of the Atomic Wallet.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Bitget's Bitcoin Reserve Ratio Soars Over 300% Following Halving
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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