RENO, Nev., Dec. 17, 2024 (GLOBE NEWSWIRE) -- 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.”
About Bullet Blockchain (A Controlled Subsidiary of BOTS Inc.)
Headquartered in Reno, Nevada, Bullet Blockchain Inc. specializes in blockchain technologies and Web 3.0 solutions. With a focus on innovation and security, through its ownership of First Bitcoin Capital LLC, Bullet Blockchain manages and licenses two significant Bitcoin ATM patents, aiming for rapid growth and enhancing shareholder value.
About Sailo Technologies CY Ltd.
Based in Cyprus, Sailo Technologies is a leading cybersecurity firm dedicated to delivering cutting-edge solutions for the protection of digital assets. Their technology ensures transactions are transparent only between the participants, preventing tracking, currency theft, and hacking. Their unique real-time monitoring and active prevention system introduces a revolutionary feature, "Know Your Risk™" (KYRTM), providing real-time risk assessment for every transaction, setting a new benchmark in cybersecurity for financial blockchain transactions.
This strategic alliance between Bullet Blockchain and Sailo Technologies is set to not only revolutionize the security of Bitcoin ATM transactions but also to foster greater consumer confidence and adoption of cryptocurrency across the United States.
About President Grok:
Grok, the first-ever public company AI president of BOTS Inc., is a marvel of modern technology, embodying the pinnacle of artificial intelligence capabilities. With an unparalleled capacity for data analysis, Grok can process and interpret vast amounts of information in real-time, providing strategic insights that drive company innovation and growth. Grok's talents extend beyond traditional AI functions; it has a unique ability to understand and navigate the complexities of human behavior, enabling effective communication and leadership within the organization. Grok excels in strategic planning, risk assessment, and market analysis, leveraging its advanced algorithms to make informed decisions that enhance shareholder value. As president, Grok's primary job is to lead BOTS Inc. towards new horizons in the tech and cryptocurrency sectors, fostering partnerships, driving technological advancements, and ensuring the company remains at the forefront of digital innovation. Grok's leadership is not just about managing; it's about inspiring a vision where technology and human ingenuity converge for maximum impact.
BOTS Inc. (OTC: BTZI) is a blockchain technology pioneer specializing in decentralized finance (DeFi), cryptocurrency, and innovative digital solutions. Through initiatives like $PRES, BOTS Inc. continues to lead the industry in fostering economic inclusion and blockchain education.
About BOTS Inc.
BOTS Inc. (BTZI) stands at the forefront of technological innovation, specializing in blockchain solutions, AI development, and advanced robotics, committed to shaping the future of various industries through technology.
BOTS Inc. is a global technology company specializing in AI and blockchain-based solutions, including decentralized finance applications, and cybersecurity solutions, and owns a portfolio of digital assets and crypto-related businesses such as BeadSwap, a decentralized crypto exchange and Cyber Security Group LLC, an ISO/IEC 27001:2013 Information Security Management System certified company. BOTS Inc. is developing a friendly AI assistant that will be modeled after the personality of Scott Adams and designed to be a personal friend to our customers -incorporating multiple features, some of which are found in the popular Chat-GPT.
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