Atomic Wallet Parent Company Seeks Dismissal of $100 Million Lawsuit, Citing Jurisdictional Challenge
The parent company of Atomic Wallet, a popular cryptocurrency wallet, has filed a motion in a United States court seeking the dismissal of a class action lawsuit.
The lawsuit, which seeks damages totaling $100 million, alleges that the company failed to adequately protect user funds following a major hack.
The Estonian-based firm argues that the claims should have been filed in Estonia, where the company is headquartered.
In the dismissal motion filed last week in a Colorado District Court, the company claimed that it has no significant ties to the United States and that its end-user license agreement explicitly requires any litigation to be pursued in Estonia.
Atomic Wallet’s defense further emphasizes that, according to their records, only one user in Colorado was allegedly impacted by the hack.
In the filing, Atomic Wallet claimed that the affected users agreed to the terms of service, which include a disclaimer of liability for theft-related losses and a cap on damages at $50 per user.
The company added that the negligence claims made by the plaintiffs lack legal merit, as there was no legal duty established to maintain the security of Atomic Wallet or protect against hacking.
The Estonian-based wallet provider also refuted allegations of fraudulent misrepresentation put forth by the plaintiffs.
As reported , the class action was initiated in August, two months after the $100 million exploit on Atomic Wallet, which affected approximately 5,500 users.
Although the Lazarus group is widely believed to be responsible for the attack, there are also speculations that hacking groups from other countries might be involved.
Boris Feldman, the co-founder of Destra Legal, a lawyer for the plaintiffs in
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