The parent company of Atomic Wallet, a popular cryptocurrency wallet, is currently facing a class action lawsuit seeking damages totaling $100 million. The lawsuit claims that the company failed to adequately protect user funds after a major hack. Atomic Wallet’s defense argues that the claims should have been filed in Estonia, where the company is headquartered. They emphasize that they have no significant ties to the United States and that their end-user license agreement explicitly requires any litigation to be pursued in Estonia.
In their filing last week in a Colorado District Court, Atomic Wallet further states that according to their records, only one user in Colorado was allegedly affected by the hack. The company claims that the affected users agreed to the terms of service, which include a disclaimer of liability for theft-related losses and a cap on damages at $50 per user. They argue that the negligence claims made by the plaintiffs lack legal merit, as there was no established legal duty to maintain the security of Atomic Wallet or protect against hacking. The wallet provider also refutes allegations of fraudulent misrepresentation.
