Taylor Monahan slammed the Atomic Wallet team & noted that they were holding the crypto wallet’s private key on a web server without any security.
Just a couple of days ago, many people reported that their funds from the Atomic crypto wallet had disappeared. On behalf of the reports, the atomic wallet team investigated & confirmed that 1% of its monthly active user’s wallets were compromised.
Taylor Monahan, a MetaMask dev & founder of MyCrypto, took to Twitter to criticise the Atomic Wallet team badly. She said the Atomic Wallet team always lied about the security level of its Crypto wallet.
Taylor explained that Atomic Wallet was holding the private keys on the web server and it was totally under an unsecured digital environment.
Nearly $35 million worth of crypto assets have been stolen from the Atomic wallet users and so far investigations are going on. The Atomic Wallet team urged all the experts & crypto exchanges to engage in this incident & freeze the funds if possible.
According to ZachXBT, a popular crypto investigator, this incident may lead to a hack of nearly $50 million worth of crypto assets.
A few people noted that they were failing to withdraw their bitcoin (BTC) from their Atomic wallet but when they imported the private key into another crypto wallet then they were able to withdraw the funds. Maybe it will be part of a bug or something else.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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