Atomic Wallet has apparently been exploited, with users on Twitter reporting complete losses of their crypto wallets. Atomic is a non-custodial decentralized wallet, which means that users are responsible for the assets stored in the app.
"We have received reports of compromised wallets. We are doing our best to investigate and analyze the situation. As more information becomes available, we will share it accordingly," the Atomic team said on Twitter on June 3.
Several users have commented on the post reporting losses, claiming that funds were removed from their digital wallet app. Chain detective ZachBTX, known for tracking down stolen funds and assisting hacked projects, is involved in the investigation. At the time of writing, it is unclear how the attack was carried out. Atomic claims to have over 5 million users.
Damn, all my hard work money has vanished just from the atomic wallet! This is your responsibility to secure the funds. What will happen to our funds? Please do not copy and paste anything here! just give a clear answer, many users are facing this today!
โTom (@Christomos03) June 3, 2023
Twitter users have also reported that funds from the Atomic Wallet app were stolen in the past. โThis happened to my BTC 6 months ago with Atomic. They just responded to protect their password, seed phrase, blah blahโฆ I told them it was NOT possible! All I do is use U to trade then pull out the cryptocurrencies. My response to them, then I won't use U ANYMORE! Now I was right!" wrote a user in response to the post.
The attack joins a growing list of crypto hacks taking place every week. Decentralized Finance (DeFi) Application Jimbos Protocol was blown up on May 28, resulting in a loss of 4,000 Ether worth around $7.5 million. Tornado Cash, a decentralized crypto mixer, was also recently hacked. On May 20, an attacker managed to gave 1.2 million votes to a malicious proposalgaining full control of the governance of the protocol.
Hackers stole an estimated $3.8 billion last year, mostly from attackers linked to North Korea and DeFi protocols. according to a Chainalysis report. Other analysis from TRM Labs reveals that although the number of incidents remained the same In Q1 2023, the average hack size dropped to $10.5 million from nearly $30 million in Q1 2022.
โUnfortunately, this slowdown is likely a temporary relief rather than a long-term trend,โ TRM Labs noted, warning that just a few large-scale attacks could tip the scales again.
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