Atomic Pockets, a popular multi-currency wallet, was victim to one of the worst hacks in cryptocurrency history, dealing a fatal blow to the industry and raising concerns about the security of DeFi platforms.
According to ZachXBT, an on-chain detective who is closely watching the hack’s effects, the amount of stolen money has topped $35 million. Bitcoin, Ethereum, Tron, Binance Good Chain, ADA, Ripple, Polkadot, Cosmos, Algorand, Avalanche, Stellar, Litecoin, and Dogecoin were among the cryptocurrencies targeted by the hacker(s).
The worst-hit individual victim, according to ZachXBT, lost approximately eight million USDT on the Tron network. In addition, numerous other victims have suffered significant six-figure losses on various blockchain networks.
In order to address the situation, Atomic Pockets posted on Twitter that it had learned of compromised wallets and was looking into it. The company promised its clients that it was doing everything it could to investigate the situation and will provide more updates.
Less than 1% of the pockets’ active monthly users were said to have reported being impacted at the time of the statement, according to the agency. The victims have received support from the cryptocurrency community, and many of them have shared their transaction hashes with ZachXBT to aid the investigation.
However, con artists have wasted no time in taking advantage of the situation; they have already started flooding Twitter with fake Atomic Pockets refund tweets to prey on unsuspecting people.
The Head of Analysis at Uphold Trade described the incident as “one of many greatest hacks in the historical past of crypto” due to the severity of the hack. The researcher emphasized the importance of giving cybersecurity first priority and promoted transparent, accountable systems that offer round-the-clock cybersecurity operations.
