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 U.S. court to dismiss the class action suit seeking damages. The argument behind the motion is that the claims 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 U.S. and that its end-user license agreement stipulates that all litigation against it should be filed in Estonia.
Furthermore, Atomic Wallet pointed out that only one user in Colorado was affected, and the affected users had agreed to terms of service that disclaimed liability for losses due to theft and limited damages to $50 per user.
The company also argued that the negligence claims lack legal merit, citing that Colorado recognizes no duty to maintain the security of the wallet and protect against hacking.
Additionally, the Estonian-based wallet provider refuted the allegations 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 informed about the potential implications. The outcome of this lawsuit could shape the future of similar cases in the crypto 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 crypto wallet or service.
Coinan Porter stands as a notable crypto analyst, accomplished researcher, and adept editor, carving a significant niche in the realm of cryptocurrency. As a skilled crypto analyst and researcher, Coinan’s insights delve deep into the intricacies of digital assets, resonating with a wide audience. His analytical prowess is complemented by his editorial finesse, allowing him to transform complex crypto information into digestible formats.