$BULT Bullet Blockchain And Sailo Technologies To Join Forces Revolutionizing Bitcoin ATM Security In The U.S.
https://www.globenewswire.com/news-release/20...e-U-S.html
RENO, Nev., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Bullet Blockchain, Inc. (“Bullet Blockchain” or the “Company”), (OTC: BULT), a pioneering BaaS company at the forefront of blockchain and Bitcoin ATM technologies, is pleased to announce the signing of a Memorandum of Understanding (MOU) with Sailo Technologies CY Ltd. (Sailo Technologies), a pioneering cybersecurity company based in Cyprus. This strategic partnership will designate Bullet Blockchain as the exclusive partner of Sailo Technologies’ advanced cyber-security solutions for the Bitcoin ATM industry across the United States.
This innovative partnership between Bullet Blockchain and Sailo Technologies introduces a cutting edge, first of its kind, crypto wallet cybersecurity protection with money back guarantee services. Sailo Technologies provides an assurance-based coverage for blockchain transactions and real-time wallet protection setting a new standard of trust and safety for Bitcoin ATM and related cryptocurrency transactions.
Enhancing Bitcoin ATM Security:
Sailo Technologies specializes in cutting-edge cybersecurity solutions designed to protect cryptocurrency transactions and wallets from any unauthorized access and cyber threats. By integrating Sailo Technologies’ innovative security protocols into Bitcoin ATMs, this collaboration aims to provide unparalleled protection for users, ensuring secure transactions and safeguarding digital assets.
Exclusive Crypto Wallet Insurance for Bitcoin ATM Users
To further enhance user confidence, Bullet Blockchain will introduce Sailo Technologies’ crypto wallet insurance of up to $150,000 per wallet, exclusively for Bitcoin ATM users. This initiative provides an added layer of financial protection, reinforcing the Company’s commitment to user security.
Commitment to Secure Cryptocurrency Transactions
“Our collaboration with Sailo Technologies and the introduction of crypto wallet insurance will represent significant advancements in securing Bitcoin ATM transactions,” said Simon Rubin, CEO of Bullet Blockchain Inc. “By combining our patented technologies with Sailo Technologies’ cybersecurity expertise and elite services, we are setting a new standard for protecting users' crypto wallets, reinforcing our dedication to safety and innovation in the digital asset industry.”
Addressing Rising Cybersecurity Threats:
CBS recently reported that in recent years, the cryptocurrency sector has faced significant challenges due to cyberattacks. In 2022 alone, hackers stole a record $3.8 billion in crypto assets, marking a 15% increase from the previous year.
According to the Federal Trade Commission (FTC), consumer losses due to Bitcoin ATM scams have surged nearly tenfold since 2020, reaching over $110 million in 2023. In the first half of 2024 alone, reported losses exceeded $65 million, with individuals over 60 being more than three times as likely to fall victim compared to younger adults. The median loss reported during this period was $10,000. Scammers often impersonate government officials, businesses, or tech support, creating a false sense of urgency that prompts victims to withdraw cash and deposit it into Bitcoin ATMs, unknowingly transferring funds directly to the scammers' cryptocurrency accounts.
Bullet Blockchain’s Intellectual Property
Bullet Blockchain continues to advance its licensing initiatives, offering operators and manufacturers a variety of partnership models including transaction-based fees and revenue-sharing opportunities centered around its intellectual property. As previously announced, Bullet Blockchain acquired First Bitcoin Capital LLC, which owned an intellectual property portfolio consisting of the rights to two Bitcoin ATM patents, becoming the owner and licensor of these valuable assets. By virtue of its subsidiary First Bitcoin Capital LLC, Bullet Blockchain’s intellectual property includes the ownership and the exclusive rights to US Patent Nos. US9135787B1 “Bitcoin kiosk/ATM device and system integrating enrollment protocol and method of using the same” (US9135787B1) and US10332205B1 “Bitcoin kiosk/ATM device and system and method of using the same” (US10332205B1), respectively. The combined patents acquired by Bullet Blockchain are critical patented technologies for Bitcoin ATMs and networks to operate.
https://www.globenewswire.com/news-release/20...e-U-S.html
RENO, Nev., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Bullet Blockchain, Inc. (“Bullet Blockchain” or the “Company”), (OTC: BULT), a pioneering BaaS company at the forefront of blockchain and Bitcoin ATM technologies, is pleased to announce the signing of a Memorandum of Understanding (MOU) with Sailo Technologies CY Ltd. (Sailo Technologies), a pioneering cybersecurity company based in Cyprus. This strategic partnership will designate Bullet Blockchain as the exclusive partner of Sailo Technologies’ advanced cyber-security solutions for the Bitcoin ATM industry across the United States.
This innovative partnership between Bullet Blockchain and Sailo Technologies introduces a cutting edge, first of its kind, crypto wallet cybersecurity protection with money back guarantee services. Sailo Technologies provides an assurance-based coverage for blockchain transactions and real-time wallet protection setting a new standard of trust and safety for Bitcoin ATM and related cryptocurrency transactions.
Enhancing Bitcoin ATM Security:
Sailo Technologies specializes in cutting-edge cybersecurity solutions designed to protect cryptocurrency transactions and wallets from any unauthorized access and cyber threats. By integrating Sailo Technologies’ innovative security protocols into Bitcoin ATMs, this collaboration aims to provide unparalleled protection for users, ensuring secure transactions and safeguarding digital assets.
Exclusive Crypto Wallet Insurance for Bitcoin ATM Users
To further enhance user confidence, Bullet Blockchain will introduce Sailo Technologies’ crypto wallet insurance of up to $150,000 per wallet, exclusively for Bitcoin ATM users. This initiative provides an added layer of financial protection, reinforcing the Company’s commitment to user security.
Commitment to Secure Cryptocurrency Transactions
“Our collaboration with Sailo Technologies and the introduction of crypto wallet insurance will represent significant advancements in securing Bitcoin ATM transactions,” said Simon Rubin, CEO of Bullet Blockchain Inc. “By combining our patented technologies with Sailo Technologies’ cybersecurity expertise and elite services, we are setting a new standard for protecting users' crypto wallets, reinforcing our dedication to safety and innovation in the digital asset industry.”
Addressing Rising Cybersecurity Threats:
CBS recently reported that in recent years, the cryptocurrency sector has faced significant challenges due to cyberattacks. In 2022 alone, hackers stole a record $3.8 billion in crypto assets, marking a 15% increase from the previous year.
According to the Federal Trade Commission (FTC), consumer losses due to Bitcoin ATM scams have surged nearly tenfold since 2020, reaching over $110 million in 2023. In the first half of 2024 alone, reported losses exceeded $65 million, with individuals over 60 being more than three times as likely to fall victim compared to younger adults. The median loss reported during this period was $10,000. Scammers often impersonate government officials, businesses, or tech support, creating a false sense of urgency that prompts victims to withdraw cash and deposit it into Bitcoin ATMs, unknowingly transferring funds directly to the scammers' cryptocurrency accounts.
Bullet Blockchain’s Intellectual Property
Bullet Blockchain continues to advance its licensing initiatives, offering operators and manufacturers a variety of partnership models including transaction-based fees and revenue-sharing opportunities centered around its intellectual property. As previously announced, Bullet Blockchain acquired First Bitcoin Capital LLC, which owned an intellectual property portfolio consisting of the rights to two Bitcoin ATM patents, becoming the owner and licensor of these valuable assets. By virtue of its subsidiary First Bitcoin Capital LLC, Bullet Blockchain’s intellectual property includes the ownership and the exclusive rights to US Patent Nos. US9135787B1 “Bitcoin kiosk/ATM device and system integrating enrollment protocol and method of using the same” (US9135787B1) and US10332205B1 “Bitcoin kiosk/ATM device and system and method of using the same” (US10332205B1), respectively. The combined patents acquired by Bullet Blockchain are critical patented technologies for Bitcoin ATMs and networks to operate.
