Atomic Wallet Hack: Are Cold Wallets The Only Safe Option?

One of the biggest crypto wallet in the world, Atomic wallet, witnessed a different kind security breach which has resulted in a loss of over $35m dollars belonging to its users. This breach is so different from others we've seen and known because firstly, the exploit happened without mistakes from those who suffered losses and secondly the wallets are decentralised. This is quite a dillema for the crypto community particularly since this is happening at a time when we all seemed to have concluded that storing funds on decentralised wallets was far safer than than storing them on centralised exchanges.

This attack has made so many people begin to question decentralised exchanges wit even the best reputation like Trust wallet and Meta Mask because if it could happen to one, it could happen to all. More exploits hacks still happened as post the exploit as scammers have seized the opportunity to exploit users who have lost money from their Atomic wallet by advertising fake airdrops as a form of refund and consolation by Atomic wallet.

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This is a large scale exploit and have opened the crypto community to questioning if cold wallets are infact the safest option right now. So far, no one has claimed/ taken responsibility for this exploit but rumours have it this is possibly an exploit by North Korean hackers who have been able to pull of massive exploits and hacks in recent times. I feel really bad and heartbroken for those who've lost their money through this exploit and I can only hope their losses are replenished in one way or the other.