AToken Wallet Users Reporting Stolen Funds

9 February 2022, 07:01 GMT+0000
Updated by Kyle Baird
9 February 2022, 07:01 GMT+0000
In Brief
  • SlowMist said that AToken is experiencing an attack, and users are reporting the same.
  • AToken announced a stop operation in late December 2021.
  • The crypto market continues to experience hacks, with the DeFi and NFT market major targets.
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Users of the AToken Wallet are reporting that their funds are being stolen. Blockchain security firm SlowMist has also pointed out that the wallet is suffering an attack, urging users to move funds.

Blockchain security firm SlowMist has reported that AToken has suffered an attack, according to a tweet posted on Feb 9. The team said that users of the AToken Wallet had funds being secretly transferred, and this process is continuing at the time of publishing.

The AToken official Twitter account sent out a tweet on Dec 20, 2021, talking of a stop operation. In it, AToken asked users to “stop accessing and using AToken” by Dec 24, 2021, in jurisdictions where it did not meet compliance standards. It also said that the user would bear any losses or risks that would occur post the deadline.

According to SlowMist, the AToken team has not offered a response to users in the Telegram channel who are discussing the stolen funds. The security firm urges users of the wallet to transfer their funds to a secure wallet, among other precautions.

Specifically, SlowMist asks that users “do not use wallets that import AToken or use mnemonic words or private keys generated by AToken” and “retain the installation package of the AToken wallet APP in question for subsequent forensics and other operations that may be required.”

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It also asks those affected or who might be affected to note the timestamp and hacker’s address to help with potential recovery.

Will 2022 bring about better security?

There have been multiple reports of stolen funds from various crypto platforms and services in recent months. A cross-chain bridge hack of Meter saw $4.4 million stolen, while NFT marketplace Vulcan Forged saw almost $100 million of PYR stolen.

In fact, NFTs and marketplaces have become the new target for hackers, who are capitalizing on its popularity. $2.2 million in Bored Ape NFTs were stolen, which led to OpenSea freezing transactions. This, in turn, sparked criticism from the community, who said that it was not in the spirit of decentralization.

This has been a concern for regulators and lawmakers, who brought to attention that North Korea is also carrying out cyberattacks to steal crypto. A UN report said that the country was funding its missile program through stolen crypto.

Disclaimer

BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.