Atomic Wallet Exploited and Users Lost Their Funds

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(Edited)

Even though you intend to secure your crypto assets, there is something that is out of your control. No one wants to fall for any hacks or scams and ends up losing their cryptocurrency. Unfortunately, we see scams, exploits, and hacks in the crypto space consistently.

Atomic Wallet Exploited and Users Lost Their Funds.png

There is no sign to slow it down. Looks like it keeps rising. The latest addition to it is Atomic wallet which is a non-custodial decentralized wallet. Your cryptocurrency should be secured and safe in the wallet. You hold your private key.

Users are complaining about losing their crypto assets from their atomic wallets. They are sad and depressed to see their crypto portfolio vanish. Their hard work and investment have gone. This is unexpected and not acceptable.

The atomic wallet team tweeted about the complaint report. They are investigating this incident. They also mentioned their email address for support and questions. People speculate about this exploit like it could be a supply chain issue, hackers make some changes in the software code, and so on.

On-chain investigator ZachBTX also works on this to find out what happened. They have experience in tracing stolen funds and solving this kind of issue. Hope they will find out the problem and fix that. But hacking and losing funds like this is discouraging and it will work against the mass adoption of cryptocurrency.

You have to be alert in the crypto space, otherwise, you can be the next victim.jpg

Arbitrum-based DeFi protocol Jimbos was exploited which causes a loss of $7.5 million in ETH. DeFi lending protocol Fintoch was an exit scam and investors lost $31.6 million. Hackers hacked the Orbiter Finance Discord server to promote fake airdrops. Popular Twitter accounts like OpenAI CTO was hacked to spread fake token airdrop that leads to the phishing website.

You have to be alert in the crypto space, otherwise, you can be the next victim. In order to make progress, scams, and hacks have to be minimized. Because of the lack of security measures, crypto enthusiasts and investors pay the price and lose their crypto assets.

Image Sources: 1, and 2.
Reference: 1.

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Hi, I am Rezoanul Vibes. I'm a content creator and passionate learner. I write about finance, cryptocurrency, and lifestyle.

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3 comments
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It's sad to hear and I hope they figure out the problem soon. I guess we can't really trust those software wallets that we download at all. The best place for your crypto is to be in your own wallet.

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It seems keeping crypto assets secure and safe is challenging these days. You should have the ultimate control of your cryptocurrency. That's the best way.

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