Atomic Wallet Victim Recovers $1M With Assistance From On-Chain Researcher ZachXBT

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Despite the firm’s claim, numerous customers have reported financial losses, with no details provided about the recovery method

According to Atomic Wallet’s claim, less than one percent of their monthly active customers were impacted by the $35 million theft since June 2.

The company has joined forces with independent blockchain investigators to intensify their efforts in tracing and recovering the stolen funds.

However, during this time, a few verified fraudulent Twitter accounts falsely posed as representatives of Atomic Wallet, spreading phishing links that purportedly offered assistance in recovering stolen assets.

In addition, ZachXBT, an on-chain researcher, stated that they helped a victim in recovering $1 million. However, the specific details of the recovery process have not been disclosed yet. ZachXBT mentioned that they will share the information in due time, but it is currently advised not to do so.

Despite the notification issued by Atomic Wallet, many customers have reported financial losses, leading to community criticism regarding the company’s attempt to downplay the situation. In ZachXBT’s investigation, it was discovered that one individual lost a significant sum of $7.95 million in Tether on the Tron blockchain as a result of the Atomic Wallet breach.

The latest report reveals that the top five losses amount to a staggering $17 million.

In contrast, the Twitter account belonging to Peter Schiff, a prominent critic of cryptocurrencies and proponent of gold, was breached and utilized to promote a fraudulent gold coin scheme.

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The hacker, in an attempt to bridge the gap between fiat and digital currencies and foster the Web3 community, leveraged Peter Schiff’s Twitter account to announce the purported launch of “Gold,” a cryptocurrency asset.

Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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