In a compelling show of solidarity within the cryptocurrency community, Atomic Wallet reports the successful freezing of $2 million in digital assets on centralised cryptocurrency exchanges. This accomplishment highlights the strength of collaboration and collective effort in safeguarding the cryptocurrency landscape.
The story began on Saturday, June 3, 2023, when Atomic Wallet’s support team started receiving complaints from users who noticed unauthorized transactions from their wallets. Concerned about the security of their users, Atomic Wallet’s security team acted swiftly. They restructured access to their servers, activated an “under attack mode” for internal processes, and temporarily paused app downloads and updates to minimize potential risks.
In an urgent response, Atomic Wallet sought the assistance of two blockchain analysis leaders, Chainalysis and Crystal, to trace and freeze suspicious deposits linked to unauthorized access claims. Since June 3rd, no new cases have been reported, and less than 0.1% of Atomic Wallet app users have been affected.
Chainalysis and Crystal, renowned for their forensic expertise and blockchain intelligence, were instrumental in identifying and containing the threat. Their unwavering support and technical competence played a pivotal role in successfully freezing the assets.
The threat actor employed highly complex techniques to obscure the movement of the funds. Funds were routed through the Bitcoin blockchain, mixed in various ways, and eventually landed on the Tron blockchain and Bitcoin network. Funds were transferred in multiple phases, involving diverse laundering methods, adding to the complexity of the investigation.
Atomic Wallet expresses its sincere appreciation to the centralized cryptocurrency exchanges that promptly collaborated to freeze assets associated with the reported transactions. Their swift response and cooperation significantly reduced the impact of the incident on affected users.
This operation to freeze assets underscores the resilience and unity of the cryptocurrency community. It also emphasizes the importance of rapid response during times of crisis. Atomic Wallet commends the support and vigilance of the global crypto community throughout this challenging period.
Marina Khaustova, CEO of Crystal Blockchain, emphasized the importance of rapid response, saying, “This case shows how crucial it is to have a rapid response and how real-time data plus expert investigators can stop threat actors in their tracks.”
The freezing of $2 million in assets on centralized exchanges reinforces the significance of collaboration with forensic companies and exchanges. Atomic Wallet remains committed to providing a secure and seamless experience for its global user base.
Atomic Wallet has introduced multiple security updates and enhancements to their security and monitoring infrastructure, prioritizing the safety of their users and their assets.
This successful operation to freeze assets serves as a powerful reminder of the importance of vigilance, cooperation, and swift response in the ever-evolving cryptocurrency landscape. As Atomic Wallet continues to prioritize the safety and security of its users, it sets an example of resilience and unity within the crypto community, proving that together, challenges can be surmounted, and the digital frontier can be secured.
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