The decentralized wallet firm plans to offer a million-dollar payout pool to those that identify bugs on its platform as it battles a class action lawsuit over $100 million lost in a data breach earlier this year.

Atomic Wallet, a non custodial crypto wallet firm, announced a $1 million bug bounty program targeted at ethical hackers who can identify potential security vulnerabilities on its platform.

In a Dec. 18 blog post, the Atomic Wallet team announced the initiative which would reward participants based on the severity of the security threads they flag. For instance, those that identify low-risk vulnerabilities will be awarded $500 and those that flag critical-risk threats will be awarded $10,000.

A $100,000 reward has been promised to someone who discovers a flaw in Atomic’s infrastructure that can lead to an attack or drain a wallet without physical access.

“Recent events in the blockchain industry have once again reminded us that cybersecurity is a dynamic field, and the best way to stay ahead is by harnessing the creativity and expertise of the global community,” said Atomic Wallet Founder Konstantin Gladych in a statement.

Interestingly, the blog makes no mention of the hack it suffered in June, where an estimated $100 million in user funds were stolen, according to blockchain security researchers. 

Atomic Wallet is now fighting off a class-action lawsuit, with the plaintiffs claiming that the team behind the platform was aware of “existing security vulnerabilities as early as 2022 but failed to take necessary security measures or precautions to protect user data and funds.” Lawyers for Atomic Wallet have filed to dismiss the lawsuit.

In a statement shortly after the hack, the Atomic team claimed that less than 0.1% of their users had been affected, although the crypto community has debated the veracity of these claims. Several users are still waiting on an update about the funds stolen from their wallets in June, and have taken to X to voice their frustration with the platform.

And not safe for your funds.

— Dean V. Rogulja (@DeanRogulja) December 19, 2023