Atomic Wallet’s $100M Breach: Questions Rise on Estonia’s Crypto Regulations 

North Korean hackers purportedly pilfer $100 million from Estonia's Atomic Wallet, sparking debates over Estonia's crypto oversight.


Estonian crypto enterprise, Atomic Wallet, reported a theft of $100 million, allegedly by North Korean hackers. The breach has led some victims to question Estonia’s regulatory framework, suggesting it may be too permissive. There’s also speculation about insider involvement. Although only “less than 1%” of users were affected, the fallout has been significant. A group representing the aggrieved has established a website, AtomicWalletVictims.com, and claims to have engaged an international legal firm. They’re holding the CEO of Atomic Wallet accountable for negligence and are urging the Estonian authorities to act. Financial data for Atomic Protocol Systems OÜ, the firm behind Atomic Wallet, shows a decline in sales and profit in 2022. Established in 2018 by Gladyshev, Brusov, and Sokolov, the firm had a workforce of six last year. While Atomic Wallet may not be a household name in the region, its establishment in Estonia is notable. 

Source: arileht.delfi.ee

Jakub Warzecha

Creative copywriter, archaeologist. Interested in history, technology and military matters. Specializes in marketing communications and application architecture design.

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