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Bitcoin [BTC] arbitrage trading platform Atlas Quantum breached, 261000 users’ data leaked

Anirudh VK

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Bitcoin [BTC] arbitrage trading platform Atlas Quantum breached, 261,000 users' data leaked
Source: Unsplash

One of Brazil’s cryptocurrency trading platforms, Atlas Quantum, was recently subject to an information breach that revealed the names, phone numbers, account balances and email addresses of its user base. Close to 261,000 customers were affected, leading to concerns about the compromise of personal information.

Atlas Quantum is a platform that automates arbitrage trading to allow users to make profits off-market movements of Bitcoin [BTC]. Following the breach, the exchange made it clear that none of the users’ funds were compromised.

There have been multiple reports of kidnappings occurring due to individuals holding Bitcoin in Brazil. The breach further exacerbates the worries that the customers of the exchange already faced due to trading Bitcoin.

The users’ data was compromised and posted on Pastebin, along with a copy of the data being sent to data breach website Have I Been Pwned. The website then posted the notification of the breach on Twitter, where they stated that 24% of the addresses were already in their database. They said:

“New breach: The Atlas Quantum cryptocurrency investment platform had 261k names, phone numbers, email addresses and account balances exposed. 24% were already in @haveibeenpwned.”

In a post on Facebook, they gave a clear picture of what had occurred, along with stating that some features of the platform have been disabled temporarily. Rodrigo Marques, the Founder, and CEO of the platform, stated [trans.]:

“We are conducting an investigation with our information security advisor to understand the incident in more detail and we will cooperate with the appropriate authorities…this is not a steal of bitcoins in custody or violation of our accounts in the exchange.”

The exchange also said in a statement to the local press that they were not sure if the breach was an inside job or an invasion. They also said that the leaked list does not contain information such as passwords or any information that can be used for login. This is a ray of hope for customers of the platform, as the breach shows that the platform had around 5800 Bitcoin in its possession. At current market prices, this comes up to around $38.9 million, which would have made a hack a high-profile one.

Marques, however, stated that funds were saved due to timely action. He said:

“At the time of the incident, we took immediate steps to protect the database and passwords and private keys remain encrypted. We are monitoring the affected accounts and working to have additional protection against fraud.”





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

Bitcoin

Bitcoin will likely be valued at $100,000 with a market cap of over $2 trillion before the end of 2021

Priya

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Bitcoin [BTC] will likely reach $100,000 with a market cap of over $2 trillion before the end of 2021
Source: Unsplash

The entire cryptocurrency market seems to be on the brighter side of the market since the beginning of the year. A majority of the coins have recorded significant recoveries from their 2018 slump, a period during which most coins lost over 90 percent of their value, when compared to their all-time highs. Among all the coins in the market, Bitcoin [BTC] aka the digital gold, was noted to be making a massive comeback as the coin breached the $11,000 mark after nearly 15 months. The coin however, soon retracted to settle below the $11,000 level.

According to CoinMarketCap, at press time, Bitcoin was trading at $10,887.27 with a market cap of $93.549 billion. The coin recorded a 24-hour trading volume of $20.757 billion for the past 24 hours and saw a massive rise of over 17 percent over the past seven days.

Anthony Pompliano, Co-founder of Morgan Creek Digital Assets, predicted that the largest digital currency could rise to reach $100,000, before the end of 2021. Pomp added that he was around 70-75 percent confident in this prediction. He stated,

“As I have previously said, making predictions is difficult […] Part of my process as a professional money manager is forming a thesis (price target), identifying a timeline (date), and establishing a confidence level. And then constantly re-evaluating those three aspects of my thought process as I receive new information.”

Pomp however, listed six pointers that have to be understood beforehand. First, this prediction is not an investment advice, and people should do their own research before investing in the digital currency. The second is with respect to Bitcoin’s volatility, with Pomp remarking that since it was a highly volatile market, the coin could witness a significant fall before being valued at $100,000. He stated,

“I anticipate that there will be numerous 20-30% drawdowns from new all-time highs as the asset continues to appreciate in value. These mini-boom/bust cycles should not cause panic, but rather need to be understood as natural market dynamics whenever an asset gains significant value in short periods of time.”

Further, the partner of the investment firm stated that the rise would be driven by several catalysts. This includes institutional adoption, exchange-traded funds and retail product approvals, global instability, governments all across the globe manipulating currencies, markets and economy. He went on to state,

“The market cap of Bitcoin will reach $2+ trillion when Bitcoin is worth $100,000. This is less than 1/3 the market cap of gold and less than 1/40 the global money supply.”





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