• Atomic Wallet claims that less than 1 percent of its monthly active users have been impacted by the hack, but some users are reporting continued losses.
• Users of the popular Atomic wallet have lost a total of $35 million worth of crypto assets since June 2, with the five largest losses contributing to $17 million.

As per data provided by on-chain sleuth ZachXBT, users of the popular Atomic wallet have lost a total of $35 million worth of crypto assets since June 2. Of this, the five largest losses of the Atomic wallet contribute to 50 percent i.e. $17 million worth of funds lost.

Atomic Wallet has been investigating the matter and the cause behind the attack. Reports suggest that apart from the crypto tokens being lost, the transaction histories have been erased, and even the entire crypto portfolios stolen.

Pseudonymous Twitter handle ZachXBT, popular for tracing stolen crypto funds, conducted an independent investigation and found that the largest victim had lost $7.95 million in Tether.

“Think it could surpass $50m. Keep finding more and more victims, sadly,” commented ZachXBT.

Atomic is a decentralized wallet that operates on a noncustodial basis, putting the responsibility of asset storage on the users themselves. As per its Terms of Service, Atomic does not accept liability for any damages suffered by users on the blockchain.

“Under no circumstances will Atomic Wallet be liable to you for damages arising out of the services exceeding $50,” the company says.

Atomic Wallet offers services to more than 5 million customers per month. Emre, a Turkish resident who lost nearly $1 million in crypto assets received from bug bounty programs told CoinTelegraph:

I felt terrible because I am a cybersecurity expert by profession. “They say they’re looking into it, but they don’t have anything concrete yet,

Less Than 1% of Monthly Active User Impacted

Atomic Wallet noted that less than 1 percent of its total monthly active users have been impacted by the hack. However, investors need to be careful since some of the verified scam Twitter accounts have been impersonating Atomic Wallet while sharing phishing links while claiming to help users recover their lost funds.

On the other hand, pseudonymous on-chain researcher ZachXBT continues to help victims. In one of the cases, ZachXBT helped a victim recover $1 million of lost funds. However, he hasn’t shared the exact recovery process followed adding:

Will share in time but best not to yet.

But despite the announcement from Atomic Wallet, numerous users have continued to report the loss of funds as of writing this story. Some users have also called out Atomic’s Wallet’s attempt to pour water over the damage. One of the users’ said: “% doesn’t matter, hacker intend to focus on big fund wallet only.”

Although the crypto industry has continued to grow and mature with greater participation, the number of hacks hasn’t slowed down. Notorious hackers continue to find new ways of stealing user funds, and new gullible participants continue to be the victims of old hacking techniques.

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