Atomic Wallet Hacked, Losses Top $35 Million
Atomic Wallet, a popular non-custodial cryptocurrency wallet, was hacked on June 3, 2023. The hackers stole over $35 million worth of cryptocurrency, including Bitcoin, Ethereum, and Litecoin.
In a statement, Atomic Wallet said that the hack was carried out by a sophisticated group of hackers who exploited a vulnerability in the wallet's code. The company has since fixed the vulnerability and is working with law enforcement to track down the hackers.
The hack has raised concerns about the security of non-custodial wallets. Non-custodial wallets allow users to store their own cryptocurrency without the need for a third party. This makes them more secure than custodial wallets, where the cryptocurrency is stored by the wallet provider.
This makes me feel like you must use a hardware wallet when storing large funds. If you can’t trust the code, you can’t keep your funds in their wallet. We are going to see more audits on non-custodial wallets come from this.
Source:
https://twitter.com/zachxbt