BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

US Court Denies Atomic Wallet’s Motion to Dismiss $100M Hack Lawsuit

by BlockNews.com Team
November 20, 2023
in Business, Crypto, DeFi
A A
US Court Denies Atomic Wallet’s Motion to Dismiss $100M Hack Lawsuit
2
SHARES
Share on TwitterShare on Reddit
  • Atomic Wallet’s motion to dismiss class action lawsuit over $100M hack rejected by US court, despite Atomic arguing it has no US ties and that suit should be in Estonia.
  • Court found Atomic’s arguments lacked merit – US users were impacted, user agreement limiting damages was unconscionable, Atomic had duty to secure wallets based on advertising, and fraud claims were valid.
  • Lawsuit against Atomic Wallet over $100M hack will proceed in US court, despite Atomic’s efforts to dismiss the case.

Crypto storage Atomic Wallet recently filed a motion to dismiss a class action lawsuit in the US seeking damages from a $100 million hack. Atomic argued it has no ties to the US and the suit should have been filed in Estonia. However, the US court rejected Atomic’s request to dismiss the case.

Atomic Wallet’s Arguments for Dismissal

Atomic Wallet presented several arguments for dismissing the class action lawsuit. Atomic claimed it has no business connections in the US and its end-user agreement requires all litigation be filed in Estonia, Atomic stated only one user in Colorado was impacted, arguing this was insufficient for a class action. The firm said users agreed to terms limiting liability for theft losses to $50 per user. Atomic argued it had no legal duty to maintain wallet security or prevent hacking.

🛡 Security update. How Atomic Wallet is protected from possible attacks.https://t.co/RIF5vMwkZy

— Atomic – Crypto Wallet (@AtomicWallet) September 11, 2023

Court Rejects Motion to Dismiss

Despite Atomic’s claims, the Colorado District Court rejected the motion to dismiss the class action lawsuit for several reasons. While only one Colorado user was named, approximately 5,500 US Atomic wallet users were impacted by the $100 million hack. The court found the terms limiting damages unconscionable and unenforceable. Atomic’s marketing created a duty to keep wallets secure against hacking. The court upheld the plaintiffs’ allegations of fraudulent misrepresentation.

Conclusion

The class action lawsuit against Atomic Wallet will proceed in the US court, despite Atomic’s efforts to have the case dismissed. The court found Atomic’s arguments lacked legal merit. This legal battle stemming from the $100 million hack continues.

Tags: atomiccryptowallet
Tweet1ShareShare1

DON'T MISS THESE! HOT OFF THE PRESS

Fartcoin Wobbles at $1.05 After Brutal Dip — Can It Bounce Back?
Crypto

Fartcoin Wobbles at $1.05 After Brutal Dip — Can It Bounce Back?

June 1, 2025
PEPE Tanks 17%—But Don’t Count It Out Just Yet
Crypto

PEPE Tanks 17%—But Don’t Count It Out Just Yet

June 1, 2025
Solana’s Explosive Growth — The Opportunity Beyond Memecoins
Crypto

Solana’s Explosive Growth — The Opportunity Beyond Memecoins

June 1, 2025
Major Whale Activity: 1.8 Million LINK Moved From Exchanges—Here is What You Need to Do
Chainlink

Major Whale Activity: 1.8 Million LINK Moved From Exchanges—Here is What You Need to Do

May 31, 2025
Fartcoin Tanks 13% But Accumulation Signals Might Hint at a Surprise Rebound
Crypto

Fartcoin Tanks 13% But Accumulation Signals Might Hint at a Surprise Rebound

May 31, 2025
Avalanche’s Road to $100: Ambitious or Achievable?
Crypto

Avalanche’s Road to $100: Ambitious or Achievable?

May 31, 2025
Load More

Related News

PEPE Tanks 17%—But Don’t Count It Out Just Yet

PEPE Tanks 17%—But Don’t Count It Out Just Yet

June 1, 2025
Solana’s Explosive Growth — The Opportunity Beyond Memecoins

Solana’s Explosive Growth — The Opportunity Beyond Memecoins

June 1, 2025
Major Whale Activity: 1.8 Million LINK Moved From Exchanges—Here is What You Need to Do

Major Whale Activity: 1.8 Million LINK Moved From Exchanges—Here is What You Need to Do

May 31, 2025
Fartcoin Tanks 13% But Accumulation Signals Might Hint at a Surprise Rebound

Fartcoin Tanks 13% But Accumulation Signals Might Hint at a Surprise Rebound

May 31, 2025
Avalanche’s Road to $100: Ambitious or Achievable?

Avalanche’s Road to $100: Ambitious or Achievable?

May 31, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.