Brazilian Crypto Firm Atlas Compromised

A Brazilian crypto trading network named Atlas has been hacked. Personal data belonging to more than 264,000 users of the platform has been leaked. Users’ compromised data include email addresses, phone numbers, names and account balances. However, the crypto firm has confirmed that the actual funds are still safe and secure.

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Through their YouTube Channel, Digital Investments revealed that the crypto network has around 14,500 users. Additionally, the said users are holding Bitcoins (BTC-USD) totaling 5,813 in the Atlas’ exchange. As per CryptoCompare, the Bitcoins have a current value of more than $39 million.

Leaked data

Portal do Bitcoin which is a Brazilian crypto news outlet is said to have investigated the matter. It contacted one of the compromised platform’s users who went ahead to confirm that the leaked data was actually real.

According to the news agency findings, the user holding the highest number of BTC on the network has 205 coins. It also revealed that Stratum coinBR’s CEO Rocelo Lopes information had also been leaked. Furthermore, the leaked data shows that Atlas has 792 Bitcoins deposited on their exchange.

Through Facebook, Atlas disclosed that they became aware of their platform’s security breach on Saturday night, August 25, 2018. Hence, they have been carrying out investigations aided by their security advisor. The crypto firm confirmed that it was collaborating with the relevant authorities.

Enhancing security

Meanwhile, Atlas reiterated that the incident was not a theft of the held Bitcoins, neither was it a breach of its exchange’s accounts. The firm explained that even though data was leaked, they had secured the database, private keys as well as passwords.

Atlas confirmed that it was working on enhancing its security against fraud. As a result, it had disabled some of the network’s features. The crypto firm promised to communicate once they reactivate the features.

Nevertheless, Atlas has had a controversial history. It has been using its major product, Atlas Quantum to reward its users through what it calls arbitrage. The product enables users to invest easily in the digital currency sector while earning from the investments. Thus, when one deposits on the exchange, a balance tends to grow with time even when the market is poor. Hence, some people consider the platform a Ponzi scheme.

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