Connect with us

Blockchain News

Atomic Wallet Freezes $2 Million of ‘Suspicious Deposits’



Recently Atomic Wallet has frozen the amount of $2 million in what have been called "suspicious deposits"

In a recent development from the world of cryptocurrencies, Atomic Wallet has frozen a staggering $2 million in what have been dubbed “suspicious deposits.”

The move was carried out as a result of close collaboration between Atomic Wallet, blockchain intelligence companies and prominent cryptocurrency exchanges, as Cointelegraph reported.

Atomic Wallet freezes $2 million in 'suspicious deposits' on exchanges

This development is a direct response to reports filed by Atomic Wallet users, who reported unauthorized transactions in their wallets.

The freezing of the funds in question is the latest chapter in the history of Atomic Wallet, which suffered a significant hack in mid-2023, with the loss of millions in crypto assets.

However, the exact conditions that led to this vulnerability have not yet been clarified by the company.

Forensics and Exchanges Assistance

In this joint effort to ensure the security of user funds, Atomic Wallet had valuable assistance from two renowned blockchain intelligence companies, Chainalysis and Crystal. These companies played a fundamental role in identifying the threat and containing it.

According to reports from these companies, the “threat actor” behind these suspicious deposits used sophisticated techniques to conceal the origin of the funds. They used bridges and mixers to make transactions difficult to track.

Ultimately, the majority of these funds ended up on the Tron blockchain and the Bitcoin network.

Atomic Wallet, expressed its gratitude to the cryptocurrency exchanges that quickly collaborated in freezing the assets linked to these suspicious transactions.The company recognized the importance of this rapid and cooperative response to mitigate the impact of the incident, that affected some of its users.

Despite these developments, Atomic Wallet has been reluctant to provide specific details about which exchanges were involved in the funds freeze.

This is done for the purpose of maintaining the integrity of an ongoing investigation, and a timeline for the release of further information has not yet been established.

Continue Reading