A federal judge in the United States has dismissed a class-action lawsuit against the Estonian cryptocurrency business Atomic Wallet and its principal individuals, citing insufficient jurisdiction.
The lawsuit was initiated in 2023 by users following a $100 million breach in June. The plaintiffs contended that Atomic Wallet had rendered its application accessible for download in Colorado and promoted it on platforms such as X, so establishing jurisdiction.
Graham Dickinson, one of the claimants, asserted that he had regularly corresponded with Atomic Wallet’s customer service team from his residence in the state.
Judge Philip Brimmer rejected the plaintiffs’ assertion, observing that because to the digital nature of Atomic Wallet’s products, it was improbable that the firm intentionally focused on the Colorado market.
The Colorado District Court Judge determined that there was inadequate evidence to demonstrate that Atomic Wallet had substantial contact with the state of Colorado. Thereby he is rejecting the court’s jurisdiction over the company, its CEO Konstantin Gladyshev, shareholder Pavel Sokolov, and Evercode Infinite, the software development firm responsible for the wallet’s technology. The verdict represents a significant advancement for Atomic Wallet amidst persistent legal difficulties following the breach.
