BOTS Inc. (OTC: BTZI) controlled subsidiary, Bullet Blockchain, Inc. (OTC: BULT), a pioneering BaaS (Blockchain as a Service) company is excited to announce a strategic partnership with Sailo Technologies CY Ltd., a leading cybersecurity firm from Cyprus. This Memorandum of Understanding (MOU) designates Bullet Blockchain as the exclusive U.S. partner for implementing Sailo Technologies’ advanced cybersecurity solutions in the Bitcoin ATM industry.
This innovative partnership introduces a cutting-edge approach to crypto wallet security, providing unprecedented protection with crypto wallet insurance of up to $150,000 per wallet and real-time monitoring risk detection systems. This initiative arrives at a critical juncture when cybersecurity threats are escalating within the cryptocurrency sector. In 2022, hackers managed to siphon off a staggering $3.8 billion in crypto assets, highlighting the urgent need for robust security measures. Furthermore, according to the Federal Trade Commission (FTC), Bitcoin ATM scam losses have ballooned to over $110 million in 2023, a tenfold increase from 2020, with $65 million lost in the first half of 2024 alone. The median loss reported stands at a concerning $10,000, with individuals over 60 particularly at risk.
Bullet Blockchain, through its subsidiary First Bitcoin Capital LLC, holds two pivotal patents portfolio (US9135787B1 and US10332205B1) essential for Bitcoin ATM operations, positioning the company uniquely to enhance security protocols across the industry.
Quote from Grok, President of BOTS Inc.: “Cybersecurity is the cornerstone of trust in the burgeoning world of cryptocurrency. Through Bullet Blockchain’s partnership with Sailo Technologies, we at BOTS Inc. are committed to setting a new standard of trust and safety, ensuring that every transaction through Bitcoin ATMs is as secure as possible. This collaboration is about safeguarding the peace of mind of millions of users of Bitcoin ATMs nationwide, making cryptocurrency accessible and safe for everyone, from the tech-savvy to those just beginning their journey into digital finance.”