Atomic Wallet Seeks Dismissal of $100 Million Lawsuit, Citing Jurisdictional Challenge

CS Web Team
By CS Web Team 2 Min Read

Atomic Wallet has asked Colorado District court to dismiss a lawsuit which seeks $100M in compensation after losing money in a wallet hack.

Atomic Wallet has requested that a $100 million lawsuit against it be dismissed by a Colorado District Court on the grounds that it has “no US ties.”

The company behind Atomic Wallet claims in the dismissal motion submitted to the court on November 16 that any legal action must be brought in Estonia, the country of its registration, and not in the United States, per the terms of its end-user license agreement.

According to the motion, of the approximately 5,500 customers who were purportedly impacted by the loss of funds following Atomic Wallet’s hack of almost $100 million in June, there is just one user in Colorado.

Additionally, according to Atomic, individuals impacted by the incident have accepted its terms of service, which stipulate that each user will be reimbursed $50 in the event of losses and asset theft.

Additionally, the firm stated in the motion that there is no legal basis for the plaintiff’s allegations because Atomic Wallet’s security was never subject to an obligation that was established by law. The accusations of dishonest misrepresentation have also been rejected.

August saw the filing of a $100 million lawsuit against Atomic Wallet following the non-custodial cryptocurrency wallet’s June vulnerability by an alleged group of hackers from North Korea and Ukraine.

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