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Atomic Wallet faces lawsuit for theft of $100 million worth of cryptocurrencies

A group of disgruntled crypto investors filed a class action lawsuit against Atomic Wallet, which suffered a major breach in June and suffered $100 million in losses.
Dozens of top investors from Russia and the CIS are part of a class action lawsuit against Atomic Wallet. reported On August 21 by German business news agency BNE IntelliNews.
The legal action is coordinated by German lawyer Max Gutbrod and Boris Feldman, co-founder of Destra Legal in Moscow.
Gutbrod, a former partner of Baker & McKenzie in Moscow for more than two decades, said the lawyers represented about 50 clients. We lost a total of $12 million after the Atomic Wallet attack two months ago.. He stated:

“We are working to recover our customers’ assets and will take a class action lawsuit against Atomic Wallet. […] They didn’t give our customers any information about the hack or take legal action to report it.”

The no-keep crypto wallet Atomic Wallet suffered a massive $100 million exploit in mid-June 2023. at least 5,500 accounts on the platform. Crypto analytics companies like Elliptic later The theft is said to be linked to North Korean cybercrime network Lazarus Group.blamed for the theft of billions of dollars in cryptocurrency through multiple robberies.
While initial reports blame Lazarus for the Atomic Wallet attack, new allegations suggest it may be another culprit.
According to Feldman’s claims, It is much more likely that a Ukrainian group organized the attack.. His firm, Destra, worked on the case with blockchain analyst Match Systems, who conducted an independent investigation on behalf of investors.
“They found traces of involvement of Ukrainian hacker groups”Feldman reported.
As previously reported Atomic Wallet did not clarify Exactly what circumstances led to the abuse in June? The company described the four most “likely” causes, including a virus, infrastructure breach, man-in-the-middle attack, or entry of malware code on user devices. Atomic Wallet also reiterated that less than 0.1% of app users are affected.
It seems that the wallet continued to work as usual right after it was hacked.
Atomic Wallet has not responded to a request for comment at this time.

Translation of Walter Rizzo

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