Atomic Wallet is improving the security of its platform through a new initiative that will offer monetary rewards to those who discover potential vulnerabilities in its app.
In a new statement, the decentralized wallet company says it is launching a bug bounty program with a cumulative prize pool of $1 million months after a multi-million dollar exploit.
“The initiative invites security experts and passionate hobbyists around the world to join forces in identifying and correcting potential security issues or bugs in the Atomic Wallet app, ensuring an even more secure experience for millions of users worldwide.”
Atomic Wallet says it will give $100,000 to anyone who “discovers a vulnerability with the ability to attack/empty a wallet without physical access, installed malware or social engineering, indicating an actual attack via the Internet and a flaw in our code or dependencies.”
The company is also offering between $500 and $10,000 as a reward for those who discover other types of vulnerabilities.
In October, the crypto wallet company suffered a security breach attributed to North Korean hacker collective Lazarus Group. Atomic Wallet users lost more than $100 million as a result of the incident, prompting a group of Russian investors to file a class action lawsuit.
At the time, the company said it managed to freeze $2 million of the stolen funds on crypto exchanges. However, no plans were ever announced for the recovery of the remaining $98 million.
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