Victims of hackers blame the CEO of Estonian crypto company Atomic Wallet and Estonian legislation

Victims of North Korean hackers, who lost $100M, worth of crypto assets from the clients' virtual wallets of Estonian crypto company Atomic Wallet, blame the company's CEO Konstantin Gladych and Estonian legislation. They accuse Konstantin Gladych of negligence and Estonian legislation of its laws, which are not strict enough, and failure to provide sufficient financial oversight and regulation. 

A group of victims set up a website AtomicWalletVictims.com to express their interests and hired an international law firm. They say that even if Atomic Wallet claimed itself as a non-custodial company, it acted as a custodian of the fund. As a result, its application could access and transfer private keys and funds without consent or user action. The victims intend to pursue multiple legal actions against Atomic Wallet.

Founded in Tallinn in 2018 by Konstantin Gladyshev, Ilia Brusov, and Pavel Sokolov, the crypto company is a crypto wallet for buying, staking, exchanging, and managing assets. The company works with Bitcoin, Ethereum, XRP, Litecoin, USDT, NFTs, and other coins and tokens.

According to Atomic Wallet, in 2022, it had sales of €6,6M and an operating profit of €3,4M. In 2021 it had sales of €8,3M, and an operating profit - of €7,3M.