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Atomic Wallet Offers $1 Million Reward for Bug Reports

admin — Thu, 21 Dec 2023 07:42:14 +0000

The company aims to strengthen the platform’s security by rewarding white hat hackers who identify and report security vulnerabilities. The program offers a range of rewards, from $500 for reporting low-risk issues to $10,000 for finding high-risk vulnerabilities and $100,000 for discovering serious security breaches.

However, despite this significant development, the blog post did not mention the June hack attack. While there have been strong allegations that the attack was carried out by the North Korean hacker group Lazarus, the details of the attack are still under investigation.

Atomic Wallet is facing a class-action lawsuit following the previous hack attack. The plaintiffs allege that the company knew about the vulnerabilities but failed to take adequate precautions, while the company is seeking to dismiss the lawsuit by highlighting its limited liability terms of service and non-custodial wallet operations.

Here are some of the key details of the Atomic Wallet bug bounty program:

The program is open to anyone with the skills and determination to help Atomic Wallet strengthen its security infrastructure.
Rewards are based on the severity of the vulnerability found.
Low-risk issues are worth $500.
High-risk vulnerabilities are worth $10,000.
Serious security breaches are worth $100,000.

Atomic Wallet is hoping that the bug bounty program will help to identify and fix any security vulnerabilities that may exist on the platform. The company is also committed to providing a safe and secure environment for its users.

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Atomic Wallet Made a Statement for a $100 Million Attack

admin — Tue, 21 Nov 2023 14:19:59 +0000

The Estonia company that owns the US-based Atomic Wallet’ requested a lawsuit dismissal from the US court for damages arising from a $100 million attack. The company claimed the trial should take place in Estonia.

The company registered in Estonia defended in the lawsuit dismissal request presented to the Colorado District Court on November 16 that it had no relation with the US and that all lawsuits to be filed according to the end user license agreement should be held in Estonia. Atomic pointed out that only one user in Colorado was affected by this case.

The company additionally claimed they were not responsible for the losses suffered as a result of theft by 5,500 Atomic users due to the Service Terms Guarantee, and the damages were limited to $50 per user.

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The Estonia company owning Atomic Wallet claimed they had no legal liabilities to protect against hacking and ensure the security of Atomic Wallet, therefore, there was no legal basis for negligence claims. A statement was made stating “This court has rejected similar claims on several occasions because Colorado does not accept such a duty”. The plaintiff’s fraudulent statement allegations were also rejected by the Estonia-based wallet provider.

The plaintiffs initiated the class action process in August. This refers to a process two months after an abuse case of $100 million affecting more than 5,500 users of Atomic Wallet occurred. Both North Korean and Ukrainian groups took responsibility for the attack.

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Atomic Wallet Froze Millions Of Dollars!

Yunus Taşlı — Fri, 20 Oct 2023 14:07:34 +0000

Atomic Wallet Froze Millions Of Dollars! The recent historical decline in Bitcoin’s short-term supply resulted from a cybersecurity event affecting the crypto wallet Atomic Wallet. Also collaborating with major cryptocurrency exchanges, the wallet successfully froze suspicious deposits worth 2 million dollars.

The Wallet shared this development with Cointelegraph on October 19th, acknowledging the help it received from Chainalytics and Crystal in exposing the threat.

Referring to information from Chainalytics and Crystal, Atomic Wallet stated that the person carrying out the threat used various methods, such as bridges and crypto tumblers, to direct funds to the Bitcoin blockchain. Reports from Chainalytics and Crystal showed that the funds finally reached Tron and Bitcoin networks.

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The report highlights that the funds transferred from the Avalanche bridge to the Tron blockchain. The wallet thanked the central cryptocurrency exchanges that cooperated to freeze the assets associated with the reported transactions. They have critically assessed their rapid intervention to mitigate the impact of this disturbing event on affected users.

When asked which cryptocurrency exchanges Atomic Wallet collaborated with, the company avoided providing details with the statement: “At this stage, we cannot share the details of the exchanges where the funds were frozen to preserve the integrity of the ongoing investigation.”

In June 2023, a cyber attack targeted Atomic Wallet, and the attackers stole millions of crypto assets. The wallet did not disclose the vulnerabilities that led to this attack. In response to these events, a group of victim users filed a class-action lawsuit against Atomic Wallet in August.

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