Atomic Wallet’s Compromise Leads to Millions of Stolen Cryptocurrencies

Highlights

  • Atomic Wallet reported that their software had been compromised.
  • Atomic Wallet users first reported the compromise on the Telegram channel.
  • As per the crypto research firm, the stolen crypto funds are in the millions.

 

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Cryptocurrency
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A couple of days ago, Atomic Wallet tweeted it had received reports about the compromised wallets and had started the investigation. The developers of Atomic Wallet have reported extensive cryptocurrency theft from its users.

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For those unaware, Atomic Wallet is a wallet application that allows users to store various kinds of cryptocurrencies and is available on a variety of platforms such as Windows, Android, iOS & more.

Atomic Wallet, in a tweet, said We have received reports of our 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.

The next tweet says that it is working with third-party security companies to assess the situation and block the stolen funds from being sold on exchanges.

Update. The investigation is still ongoing in a joint effort with the leading security companies. The team is working on possible attack vectors. Nothing is yet confirmed, and the support team is collecting the victim’s address. Reached out to major exchanges and blockchain analytics companies to track and block the stolen funds.

Read: The Dark Pink Hackers Group Targeting Military & Government Organizations

Atomic Wallet developers have shut down their download server ‘get.atomicwallet.io’ probably of concern that their wallet was hacked and also to stop it from further expansion.

Atomic Wallet's Compromise Leads to Millions of Stolen Cryptocurrencies 1

The crypto research firm ZachXBT has been collecting transactions of funds stolen from the Atomic Wallet victims and said that over $35 million in cryptocurrency had been stolen because of the hack. ZachXBT mentions that the stolen funds have just surpassed $14M worth of stolen funds across Ripple, ETH, BSC, ADA, Polkadot, Cosmos, Avax, algo, Bitcoin, XLM, and Doge.

The firm also stated that extra transactions also boosted the stolen fund’s amount to $35M. As per the crypto security firm Tay, the first transaction for the stolen assets from Atomic Wallet occurred on June 2.

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The crypto wallet users started reporting the issue on Twitter and on the developer’s Telegram that their cryptocurrency was stolen from the Atomic Wallet account.

Atomic Wallet's Compromise Leads to Millions of Stolen Cryptocurrencies 2
Users reporting Atomic Wallet compromise

As of now, the firm is collecting information regarding the theft from the victims and asking them questions like when did they download the application, what platform are they using and what was undone before the crypto was stolen, and where the backup phone was stored.

Atomic Wallet's Compromise Leads to Millions of Stolen Cryptocurrencies 3
Atomic Wallet email about the hack

Furthermore, the firm has asked to submit the information in Google Docs, which the company had created to investigate the compromise.

Although some users have reported that the cryptocurrency was stolen after a recent update, and other users report that they never did any update and their cryptocurrency was still stolen.

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With that being said, It is still not clear how the compromise happened, but the users are advised to transfer the cryptocurrencies to other wallets till the compromise is investigated.

Read: CISA Warns of Samsung Devices’ Security Flaw, Allowing Android ASLR Bypass

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