In an active response to user-reported unauthorized transactions, cryptocurrency wallet Atomic Wallet has put a temporary freeze on $2 million in ‘suspicious deposits.’ This decisive action is the result of a collaborative effort between Atomic Wallet, several centralized exchanges, and forensic firms.
The wallet firm worked closely with blockchain intelligence agencies Chainalysis and Crystal to identify and mitigate the threat. The “threat actor” reportedly employed intricate methods to transfer funds to the Bitcoin blockchain, including the use of bridges and mixers. The majority of the funds were tracked to the Tron blockchain and Bitcoin network.
The report further noted that the suspicious funds were transferred through the Avalanche bridge before landing on the Tron blockchain. Atomic Wallet commended the quick action and cooperation of the centralized cryptocurrency exchanges in freezing the assets associated with the reported transactions, stating that it was crucial in reducing the incident’s impact.
While Atomic Wallet withheld specific details about the cooperating exchanges and the timeline for providing more information, they emphasized the need to maintain the integrity of the ongoing investigation.
This incident follows a major security breach suffered by Atomic Wallet in June 2023, which led to significant losses in stolen crypto assets.
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