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Brazil crypto investment platform hacked!

Brazil crypto investment platform hacked!

August 29, 2018 11:08 am,

Atlas is one of the most popular crypto investment platforms in Brazil. The news about hack has led to the company stating that all data and funds are safe, but it seems that the hackers have the entire personal details of the 264,000 users.

The security breach was 1st reported by the Digital Investments Youtube Channel. In total there are 14500 records of leaked data that shows the users balance on a platform, including their email address, phone number, and their names. The leaked data shows that there is 5,813 BTC that accounts to around $39 million deposited on the platform. The list leaked shows that Atlas owns 792 BTC itself, while the user holding the maximum had 205 BTC in their account. The other users include the owner of who is the largest Bitcoin, ether and dash miner in Latin America. The management also promises and clarifies that the digital currency deposited with them has not been stolen due to a hack.

Who is Atlas? – Arbitrage investment platform?

Atlas is a somewhat controversial platform in Brazil. One of the product is the Atlas Quantum and one of its main product. It mainly allows users to easily invest in the cryptocurrency ecosystem and earn from their investments through what the company states as arbitrage opportunities. Atlas Quantum is said to have a bot in charge of the arbitrage opportunity across the various virtual currency exchanges. So, even whenever the user deposits the money on the platform they see their balance grow irrespective of the market, whether it is bearish or not. A simulator on the product claims that if $1000 is invested, it sees 2% gain in 15 days and 43% in a year.

The platforms “arbitrage bot” scheme, to cryptocurrency enthusiasts, it seems similar to BitConnect’s “trading bot”. Bitconnect is also a platform for cryptocurrency investing and Ponzi scheme lending platform. Bitconnect collapsed this year in January because of bad press, Ddos, and scrutiny. While Atlas doesn’t have its own cryptocurrency, it allows users to invest in fiat and BTC, the Brazilian community seems to be suspicious.

Security measures were taken by Atlas

Responding immediately to the hack, Atlas took steps to make sure the private key of users and digital assets remained safe. The technical team is reportedly monitoring the accounts leaked and also working on implementing additional security measures to protect its users against fraud and theft.