Originally published on: September 11, 2024
In a recent court ruling, Atomic Wallet emerged victorious as a United States federal judge dismissed a class-action lawsuit against the Estonian crypto firm. The lawsuit, filed by a group of users who stored cryptocurrencies with Atomic Wallet after it suffered a $100 million hack, was unable to establish sufficient jurisdiction over the company.
The Colorado district court judge, Philip Brimmer, cited lack of significant connections between Atomic Wallet and the state of Colorado as the main reason for the dismissal. Despite efforts from the plaintiffs to argue that Atomic Wallet’s advertisements and mobile app were accessible in Colorado, the judge found the claims to be insufficient.
Atomic Wallet’s defense emphasized its lack of direct ties to the US, with only one of the plaintiffs being based in Colorado. The nature of the products involved, particularly software applications, further supported the judge’s decision that Atomic Wallet did not deliberately target the Colorado market.
Although most claims against Atomic Wallet, its CEO Konstantin Gladyshev, and other related parties were dismissed, the judge granted the plaintiffs additional time to argue against defendant Ilia Brusov, a founder of Evercode Infinite and a shareholder of Atomic Wallet.
As the legal battle continues, Atomic Wallet stands firm in its defense, with its ownership structure and business practices under scrutiny. Stay tuned for the latest updates on this high-profile case.
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