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Atomic Wallet Hit With Class Action Lawsuit Over $100 Million Hack

chain

A group of investors, who reportedly lost some $12 million, have filed a lawsuit against Atomic Wallet, claiming that insufficient information was provided and that the wallet-provider failed to notify police.

BSCN

August 23, 2023

First reported on August 21, a group of investors affected by Atomic Wallet’s security breach in June, which resulted in the loss of $100 million, have filed a class action lawsuit against the self-custody wallet provider.

According to Max Gutbrod, a German lawyer who is leading in coordination of the lawsuit alongside Boris Feldman, 50 clients are being represented, who collectively lost some $12 million. 

According to Gutbrod, “Our legal team is actively working to recuperate the assets for the affected clients. A class action against Atomic Wallet is in the pipeline due to their lack of transparency post-hack.”

It has been claimed that Atomic Wallet failed to provide those affected with sufficient information regarding the attack, and further failed to notify authorities.

Atomic Wallet Hacked For $100 Million

In June 2023, Atomic Wallet, the provider of a self-custody wallet product, was the target of a hack which resulted in the loss of around $100 million in user funds, with some investors having their entire portfolios swiped. 

It is estimated that, in total, some 5,500 wallets were affected by the attack, as reported by blockchain analysis firm, Elliptic.

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCN. The information provided in this article is for educational and entertainment purposes only and should not be construed as investment advice, or advice of any kind. BSCN assumes no responsibility for any investment decisions made based on the information provided in this article. If you believe that the article should be amended, please reach out to the BSCN team by emailing [email protected].

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