An Australian cryptocurrency exchange has removed a wallet from its platform due to security concerns, the company said.
Crypto wallet provider Atomico has said that it removed the wallet due to “security concerns”.
An Atomico spokesman said it was a “one-time occurrence” due to an “ongoing issue”.
“We are aware of this and are taking steps to remove it from the platform, and will continue to monitor the situation closely,” the Atomico spokesperson said in a statement.
In a statement, Atomico said it had removed the Cryptocurrency Wallet because it was not a “strong enough” security measure.
“It is an issue with one of our own users that has been resolved,” Atomico explained.
“The Atomico team has had the issue resolved, but due to ongoing security concerns and the nature of our services, we are removing the Cryptomind wallet from the system and asking users to re-activate their tokens.”
We will provide further updates as this issue is resolved.
“The Cryptomend wallet is one of the most popular Bitcoin wallets, having a total of more than 8,600 active users.
The company’s statement said that the security concerns had been raised by its Australian users.”
As a result of the issues with our platform, we have removed the Crypto Wallet for all users,” the statement read.
The Atomica spokesperson said that Atomico was “actively working with the Australian authorities to resolve this issue and will work with them on a full remediation process”.
The Crypto Wallet was removed from Atomico’s Australian website earlier this week, saying that the wallet had been “not maintained in accordance with our security policies”.
The Atomick website is currently unavailable.
Bitcoin and cryptocurrencies have experienced a wave of price volatility since mid-2016, with prices hitting new highs and falling back to new lows.