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Atomic Wallet, a cryptocurrency wallet that was shaken by a major hack attack in June, has managed to freeze stolen crypto assets worth $2 million with the help of major cryptocurrency exchanges. The Atomic Wallet team, who announced this development to the public, did not provide any information about how the process will continue or share the details of the incident.
What Methods Did the Attackers Use?
On October 19th, the Atomic Wallet team shared the development with the public. It was announced that blockchain data analysis firms Chainalysis and Crystal helped the company officials in identifying the wallet and controlling suspicious transactions.
Referring to the reports from Chainalysis and Crystal, the Atomic Wallet team stated that the threat actor in question used various known methods, including bridges and cryptocurrency laundering platforms, to connect the stolen crypto assets to the Bitcoin ecosystem.
According to the reports sent to Atomic Wallet, it was revealed that most of the stolen assets were sent to the Tron blockchain network and the Bitcoin network after money laundering attempts. The report also stated that the stolen crypto assets were transferred to the Tron blockchain network via the Avalanche bridge. The report included the following statements:
“Atomic Wallet expresses its sincere gratitude to the centralized cryptocurrency exchanges that promptly cooperated in freezing the assets associated with the reported transactions. Their quick responses and collaborations were crucial in mitigating the impact of the incident on some users.”
Attack Details Still Unknown
This news, which was announced by Atomic Wallet months after the hack attack in June 2023, reported that the platform lost millions of dollars with the stolen crypto assets. The Atomic Wallet team did not disclose exactly which vulnerability or conditions led to the exploitation.
In August, a group of Atomic Wallet users affected by this attack reported filing a collective lawsuit against the company due to the major breach and the subsequent $100 million loss. Many advanced countries are putting pressure for legal regulations regarding this issue, which is happening precisely because of these unfortunate events.
The inability of a citizen who has suffered thousands of dollars in losses to seek their legal rights leads to a significant weakness for the country where the user resides, and this situation not only affects Web3 users but also causes harm to major nations.
