Amid the backdrop of recent security intricacies, Atomic Wallet has forged a strategic alliance with blockchain experts Chainalysis and Crystal. Their mission: to detect and neutralize intricate security threats that have cast a shadow over their platform.
Atomic Wallet has once again made waves in the crypto community. It recently announced a successful partnership with blockchain intelligence leaders Chainalysis and Crystal. The objective behind this collaboration is to identify and mitigate a particularly intricate security threat.
According to insights provided by Chainalysis and Crystal, an elusive “threat actor” employed sophisticated tactics. This individual used methods like bridges and mixers to channel funds into the Bitcoin blockchain.
Of notable interest, a substantial portion of these funds found their way into the Tron (TRX) blockchain and the Bitcoin (BTC) network. It’s worth highlighting that the Avalanche bridge played a pivotal role in orchestrating this financial migration onto the Tron blockchain.
Atomic Wallet’s Cautious Response to Security Incident and Ongoing Investigation
The wallet provider expressed profound gratitude for the rapid response of centralized cryptocurrency exchanges. These platforms swiftly froze assets associated with the dubious transactions. Atomic Wallet credits this prompt action as instrumental in mitigating potential harm to some of its users in light of this incident.
However, in a bid to safeguard the ongoing investigative process, Atomic Wallet has opted for discretion. They remain tight-lipped about the specifics, particularly concerning the cryptocurrency exchanges involved in freezing the assets.
A spokesperson from Atomic Wallet remarked;
“To safeguard the integrity of the ongoing investigation, we cannot currently reveal details about the involved exchanges.”
This incident follows a prior breach of significant consequence in June 2023, where Atomic Wallet reportedly incurred substantial losses in cryptocurrency.
The particular vulnerabilities that rendered the platform susceptible to this breach were not elaborated upon by the company. By August, a group of aggrieved users had instigated a class action against Atomic Wallet, attributing a breach that resulted in losses amounting to $100 million.
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