Atomic Wallet faces lawsuit over $100M crypto hack losses: Report
A group of disgruntled cryptocurrency investors have launched a class action against Atomic Wallet, which suffered a major breach and $100 million in losses in June.
Dozens of high-net worth investors from Russia and the Commonwealth of Independent States are part of the class action against Atomic Wallet, the German business media agency bne IntelliNews reported on Aug. 21.
The lawsuit is being coordinated by German lawyer Max Gutbrod and Boris Feldman, a co-founder of Moscow legaltech firm Destra Legal.
Gutbrod, former partner of over two decades at Baker & McKenzie in Moscow, reportedly claimed that the lawyers are representing about 50 clients who lost a total of $12 million in the aftermath of Atomic Wallet’s breach two months ago. He said:
Atomic Wallet, the noncustodial cryptocurrency wallet, suffered a massive $100 million exploit in mid-June 2023. The breach affected at least 5,500 crypto accounts on the platform. Crypto analytics firms like Elliptic subsequently linked the heist to the North Korean cybercrime group Lazarus Group, which is believed to be responsible for stealing billions in crypto through various thefts.
While initial reports blamed Lazarus for the attack on Atomic Wallet, the new claims suggested that there may be another culprit.
According to Feldman’s allegations, it is much more likely that a Ukrainian group had orchestrated the hack. His firm Destra has been working on the case with blockchain analytics at Match Systems, who work on their own investigation on behalf of the investors.
“They have found traces of involvement of Ukrainian hacker groups,” Feldman reportedly said.
Related: Newly discovered Bitcoin wallet loophole let hackers steal $900K — SlowMist
As previously reported, Atomic
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