Atomic Wallet is beefing up the security of its platform through a new initiative that will give monetary awards 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 suffering a multi-million dollar exploit.
“The initiative invites security experts and passionate hobbyists worldwide to join forces in identifying and rectifying any potential security vulnerabilities or bugs in the Atomic Wallet App, ensuring an even more secure experience for millions of users globally.”
Atomic Wallet says it will give $100,000 to anyone who discovers “a vulnerability with the ability to attack/drain a wallet without physical access, installed malware, or social engineering, indicating an actual over-the-internet attack and a flaw in our code or dependencies.”
The company is also allocating between $500 and $10,000 as a reward for those who discover other forms of vulnerabilities.
In October, the crypto wallet firm suffered a security breach attributed to the North Korean hacking collective, Lazarus Group. Atomic Wallet users lost over $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, it never disclosed any plans for the recovery of the other $98 million.
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