Atomic Wallet hack: Stolen crypto may grow to $50M, sleuth warns

Over $35 million has been drained from Atomic Wallet users since June 2, in a hack the firm claims has affected less than 1% of its monthly active users.

Anonymous crypto sleuth ZachXBT has recorded the top five highest losses uncovered so far, which make up $17 million of the $35 million lost. One person reportedly lost over $8 million in Tether. ZachXBT also claims the total amount lost may grow to $50 million as more victims come forward. The hacker is said to be laundering the stolen funds.  

Verified scam Twitter accounts are taking advantage of the hack by impersonating Atomic Wallet and sharing phishing links. They pretend to help recover lost funds in an attempt to steal what they can from vulnerable users.

Read more: Twitter bots posing as customer support are trying to steal your crypto

Atomic Wallet damage control 

On Saturday, Atomic Wallet posted on Twitter informing users it was investigating the situation. Early on Monday morning, the firm reported that less than 1% of users were affected by the hack. Apparently, the last drained transaction was confirmed on Saturday.

Atomic Wallet added that affected accounts were being forwarded to cryptocurrency exchanges and blockchain analytics “to trace and block the stolen funds.”

However, that hasn’t stopped a number of Twitter accounts calling for Atomic Wallet users to pull their funds out. Other crypto custodians are using the hack as an opportunity to plug their own wallet services.

Read more: Explained: Benefits and drawbacks of a crypto wallet passphrase

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