50 Russian Crypto Users File Class Action Lawsuit Against Atomic Wallet
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A cohort of 50 Russian users of the renowned decentralized wallet, Atomic Wallet, are pushing for a class action lawsuit. Their move comes after the alarming $100 million exploit that dismayed many.
Possible Atomic Wallet Hack Culprits: Debating Origins
While many fingers point to the notorious North Korean hackers—Lazarus Group—others, like Boris Feldman, suggest possible Ukrainian culprits. Feldman plays a pivotal role in rallying the victims for legal recourse.
Recent revelations reveal that aggrieved Atomic Wallet users have sought the expertise of German attorney Max Gutbrod and Moscow-based legal firm Destra Legal’s co-founder, Boris Feldman. Gutbrod clarified, “Our representation extends to 50 clients, grappling with losses from $150,000 to a staggering $2 million. Collectively, their losses are estimated at $12 million.”
Gutbrod further emphasized, “Our core objective is asset recovery. It’s disconcerting that Atomic Wallet didn’t promptly notify our clients or engage law enforcement about the breach.”
In tandem, Destra Legal has allied with blockchain sleuths from Match Systems. Their mission? To spearhead a dedicated probe for the aggrieved clients.
The Root of Suspicion
Although initial chatter hinted at North Korean hackers masterminding the Atomic Wallet breach, Feldman proposes a different theory. He posits that Ukrainian cyber culprits may have orchestrated the debacle.
Cryptocurrency’s soaring popularity in Russia and Ukraine post-February’s military turmoil offers a significant backdrop. Feldman opines, “Post-conflict, there’s been an upswing in crypto adoption. Numerous individuals have relocated, leveraging cryptocurrency for fund transfers and safekeeping.”
Come June, the decentralized wallet—which boasts over five million users—became a cybercrime target. Many clients raised alarms over compromised accounts, with some lamenting monumental digital asset losses.
However, Atomic Wallet’s initial response was lackluster, breaking the news only two weeks post-incident. Their claim that a mere 0.1% of clients were affected raised many eyebrows.
Intriguingly, the hackers chose the Russian crypto platform Garantex, already under the watchful eye of the US Treasury’s OFAC, for laundering the stolen funds. Before this move, they utilized 1INCH to swap assets for USDT.
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