Match Systems Investigating Illicit Activities Behind Atomic Wallet Hack, Tracing Stolen $35 Million

Match Systems Investigating Illicit Activities Behind Atomic Wallet Hack, Tracing Stolen $35 Million

On June 4, cybersecurity company Match Systems, which specializes in financial crime detection, compliance and risk management, announced their thorough investigation into the recent compromise of Atomic Wallet. More than 100 users were affected by the incident, complaining that their wallets were emptied by unknown perpetrators, either fully or partially. 

The substantial theft took place between June 2 and June 3, with miscreants supposed to drain from $35 to $50 million in various crypto assets, according to the interim estimates. Reports from independent investigators claim that five biggest losses amounted to over $17 million, almost half of the recorded total, while the largest victim forfeited almost $8 million at once.

Atomic Wallet is yet to disclose the technical details of the exploitation. The most discussed hypothesis is that the security breach could happen due to the attackers replacing the original file to update the wallet with malware for accessing users’ private keys on the Atomic Wallet official website. Notably, the company closed access to the page where the desktop apps for MacOS, Windows and Linux were available for download, thus confirming that it was the most probable attack vector.

Currently, Match Systems is running a background check to determine the real causes of the catastrophe and track the siphoned funds to prevent them from moving further.

Commenting on the ongoing investigation, Andrei Kutin, CEO at Match Systems, said:


“We at Match Systems are working hand in glove with other security companies and organizations who can be of great help in seizing the stolen assets. To date, we have managed to track malicious transactions and keep working further, driven by the aim of recovering all the funds, with the special attention paid to a staggering loss of $7,95 million. Meanwhile, the compromised users are always welcome to make their contribution to the investigation and/or ask for any support through our special submission form.

“Our top priority is to ensure that each affected user is not abandoned. So, we strive to deliver the most relevant and accurate information about the cyber-attacks like the one that hit Atomic Wallet over the weekend. With our analytics tools coupled with the expertise of our team, Match Systems is now standing at the helm of this critical investigation, helping to sort things out for all parties involved,” he added. 

At the same time, Atomic Wallet representatives are quite reluctant to assist Match Systems in investigating the theft. As of today, the company only provided the addresses associated with the stolen funds.

If you’re a victim seeking help with the incident, don’t hesitate to fill out the contact form on the Match Systems website:

About Match Systems

Match Systems provides monitoring and analysis of on-chain crypto transactions. It specializes in AML services, blockchain forensics and investigations, as well as implementation of compliance procedures. The company delivers unique information about cryptocurrency addresses involved in illegal activities, using its comprehensive database of tailored marked blockchain addresses. Match Systems is dedicated to create safe environments for all key players in the crypto market, enabling them to assess the risks of specific transactions, counteract money laundering, and respond to emerging risks in a timely manner.