Atomic Wallet Users Sue Over $100 Million in Crypto Lost to Hack

Cryptocurrency platform Atomic Wallet’s weak cybersecurity failed to prevent North Korean hackers from stealing over $100 million in user funds, according to a proposed class action filed in Colorado federal court.

The company allowed customers to buy, sell, and store various cryptocurrencies on its platform despite knowing of security vulnerabilities that put funds stored there at risk, per the lawsuit filed against it and CEO Konstantin Gladych in the US District Court for the District of Colorado.

Atomic Wallet joins a growing pool of businesses facing litigation from customers over lost crypto. Customers claim Atomic Wallet should have already addressed ...