Atomic Wallet Introduces $1 Million Bug Bounty Initiative Following Major Security Breach Resulting in Millions Lost

Atomic Wallet Introduces Bug Bounty Program with $1 Million Prize Pool

Atomic Wallet is taking steps to enhance the security of its platform by launching a bug bounty program. The decentralized wallet company aims to reward individuals who discover potential vulnerabilities in its app. Following a recent multi-million dollar exploit, Atomic Wallet plans to offer a cumulative prize pool of $1 million.

The bug bounty initiative invites security experts and enthusiasts from around the world to collaborate in identifying and rectifying any security vulnerabilities or bugs in the Atomic Wallet App. This effort will ensure a more secure experience for millions of users globally.

Rewards for Discovering Vulnerabilities

If you find a vulnerability that can attack or drain a wallet without physical access, installed malware, or social engineering, indicating an actual over-the-internet attack and a flaw in the code or dependencies, Atomic Wallet will reward you with $100,000. Additionally, the company will allocate rewards ranging from $500 to $10,000 for discovering other forms of vulnerabilities.

A Past Security Breach

In October, Atomic Wallet experienced a security breach attributed to the Lazarus Group, a North Korean hacking collective. This incident resulted in Atomic Wallet users losing over $100 million. As a result, Russian investors filed a class action lawsuit against the company. Although $2 million of the stolen funds were frozen on crypto exchanges, there have been no disclosed plans for recovering the remaining $98 million.

Hot Take: Prioritizing Security Through Collaboration

By launching its bug bounty program, Atomic Wallet is demonstrating its commitment to prioritizing security and protecting user funds. By incentivizing individuals to discover vulnerabilities, the company is proactively working towards creating a safer platform for its users. This initiative not only encourages collaboration between security experts and enthusiasts but also helps Atomic Wallet stay ahead of potential threats in the ever-evolving crypto landscape.