Atomic Wallet Freezes $2M in ‘Suspicious Deposits’ on Exchanges

Atomic Wallet collaborates with Chainalysis and Crystal to freeze $2 million in suspicious deposits on exchanges following unauthorized transactions. Learn more about this joint effort and its impact.

Post Text (Maximum 200 words): Atomic Wallet, in collaboration with blockchain intelligence firms Chainalysis and Crystal, has frozen $2 million in “suspicious deposits” on various cryptocurrency exchanges. This action followed reports from users who experienced unauthorized transactions from their wallets.

According to reports from Chainalysis and Crystal, the “threat actor” employed sophisticated methods to move the funds to the Bitcoin blockchain, utilizing bridges and mixers. Most of the funds ultimately found their way to the Tron blockchain and the Bitcoin network.

The report specifically highlighted that the funds were funneled through the Avalanche bridge before reaching the Tron blockchain.

In response to this incident, Atomic Wallet expressed its appreciation for the prompt collaboration of centralized cryptocurrency exchanges in freezing assets related to the reported transactions. However, the wallet provider did not immediately provide further details about the situation.

This development comes after Atomic Wallet experienced a significant hack in June 2023, resulting in the loss of millions in stolen crypto assets. The exact circumstances leading to the exploit remain undisclosed, but a group of affected users had previously initiated a class action against the firm in August, seeking redress for the $100 million in losses.

Disclaimer: The information provided in this article is for educational and informational purposes only. It should not be considered financial advice from Cryptozi or any other entity. We want to emphasize that if readers use the content or services mentioned in this article, Cryptozi is not responsible for any resulting losses. Therefore, it is strongly advised to exercise caution and consult with financial professionals before making any financial decisions that could impact your financial situation.

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