A recent development points to a major cryptocurrency hack. According to updates shared on Twitter by analyst ZachXBT, a hacker targeted multiple cryptocurrencies. He stole various coins worth about $35 million from Atomic Wallet, a centralized storage and wallet service. Here are the details…
$ 35 million cryptocurrency hack!
ZachXBT pointed to the discovery of a new victim on the Tron Blockchain in a series of tweets. He especially emphasized that he experienced a significant loss of $ 7.95 million in USDT. This incident marks the biggest personal theft ever on the Tron network. The first five victims account for $17 million in damage from the attack, which primarily targeted Atomic Wallet. Investigative officials also revealed that the largest individual loss from the hacking incident involved a lost wallet with $3.5 million equivalent to 1,897 ETH.
Update: A new largest victim was found on Tron with 7.95M USDT stolen,
The five biggest losses account for $17M.
My graph has now surpassed $35M in total stolen. pic.twitter.com/eqfXkm9vlL
— ZachXBT (@zachxbt) June 4, 2023
The total loss of $9.7 million for the first five victims reveals the seriousness of the situation. Data shared by ZachXBT showed the alarming extent of the attack that affected multiple BLockchain networks. Stolen funds are from Bitcoin, Ethereum, Tron, Binance Smart Chain (BSC), Cardano (ADA), Ripple, Polkadot, Cosmos, Algorand (Algo), Avalanche (Avax), Stellar Lumens (XLM), Litecoin (LTC), and Dogecoin (DOGE) was formed. The attached chart showing the extent of the attack exceeds $14 million, while ZachXBT estimates the total amount stolen was at least $20 million.
The cause of the vulnerability is unknown.
Experts in the blockchain industry issued a warning to users. He urged to be on the lookout for fraudulent attempts, which have increased in the wake of this breach. Scammers are believed to prey on helpless victims by posting fake refund tweets from Atomic Wallet. Additionally, ZachXBT shared additional details about the attack. It revealed that in addition to the biggest victim affected by the hack losing $2.8 million in USDT, several other victims also suffered six-figure losses across different Blockchain networks.
However, the root cause of the hack is not yet clear. This event is a reminder of the constant threats the cryptocurrency community faces. Like this cryptocoin.com Emphasizes the need for robust security measures and user training, as we have also reported. As investigations continue, affected individuals and cryptocurrency users in general need to be vigilant. It also helps that they follow security best practices. In general, it is recommended that they stay up to date with the latest developments to protect their crypto assets.
Atomic Wallet: The hack affected less than 1 percent of users
Atomic Wallet said in a tweet on Monday that affected users represent “less than 1 percent of monthly active users.” He said the last hack took place on Saturday. The firm previously said it was investigating and analyzing the attack. The firm did not disclose details of the attacks as of Monday morning. Victims were asked to submit information on a Google Docs form that Atomic Wallet uses to conduct their research.
