The Atomic Wallet Lawsuit: Why It Might Get Dismissed
If you’ve been following the $100 Million hack of Atomic Wallet, you might be interested in the recent development where the company has requested a United States court to dismiss the class action suit seeking damages. The argument behind the motion is that the states should have been filed in Estonia, where the company is based, rather than in the United States.
The Estonian firm emphasized that it has no ties to the United States and that its end-user license agreement stipulates that all litigation against it should be filed in Estonia.
Furthermore, Atomic Wallet noted that only one user in Colorado was influenced, and the influenced users had agreed to terms of service that disclaimed liability for losses due to theft and limited damages to $50 per user.
The company likewise claimed that the negligence states lack legal merit, citing that Colorado recognizes no duty to sustain the security of the wallet and protect against hacking.
In addition, the Estonian-based wallet provider refuted the states of fraudulent misrepresentation.
Hot Take: What It Means for Atomic Wallet Users
As this legal battle unfolds, it’s essential for Atomic Wallet users to stay notified about the capacity implications. The outcome of this lawsuit could shape future of the similar cases in the cryptocurrency space, so keep an eye on how it progresses. Regardless of the final decision, it’s a reminder to always review terms of service and consider the jurisdiction before using any cryptocurrency wallet or service.
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