SAT20 LABS

DESCRIPTION OF EVENTS

"One sat. One world. Discover and create the value of sat so that everyone can experience and enjoy the fun of it."

"SAT20 LABS is a research laboratory dedicated to exploring innovative asset issuance and circulation models on the Bitcoin network. Through extensive and in-depth research, we have gradually established the "secure, economical, and efficient" SAT20 asset issuance and circulation protocols. We always adhere to the "satoshi-standard" and "one coin, one satoshi, mandatory binding" model, aiming to achieve a secure and standardized token issuance framework within the Bitcoin network. Our research focuses on FT, NFT,SFT,DID, DOB, and other asset models.

Our work will greatly enrich the Bitcoin ecosystem, drive innovation, and provide momentum for the development of the digital economy. We firmly believe that asset models based on Bitcoin will provide strong support for the digital economy, bringing more opportunities and possibilities."

"The official account of sat20 has been stolen, don’t trust any registration link."

"Because this Twitter account was hacked in the early morning of July 26, the scammers released Trojan software on the official Twitter account, causing many people to download and install Trojan software, resulting in certain asset losses. We deeply regret and apologize. Although we have issued relevant warning information through the accounts of some community members and partners as soon as possible, and contacted the security team to assess the risks, it still led to the transfer of some user assets.

Because our team is still very weak, core resources still need to be invested in protocol development and construction. We are temporarily unable to provide more resources to compensate and promise users who have caused losses. We hope that community members can tide over the difficulties with us, continue to work together, and provide best practices for the issuance and circulation of assets in the BTC ecosystem. In addition, please DM us if you have suffered losses in this incident. On the one hand, let us understand the overall situation, and on the other hand, we need to remember everyone's support for us and give back to our most loyal supporters when we are able."

SAT20 LABS has been exploring innovative asset issuance and circulation models built on the native bitcoin blockchain. On July 25th, their Twitter account posted about a trading platform with software which users were to install. Their account was compromised, and this was a phishing attempt to get users to install malware which would drain their wallets. The project ultimately acknowledged the breach and apologized publicly, however they do not have the resources to assist victims in a meaningful way.

SlowMist Hacked - SlowMist Zone (Aug 8)
SAT20 Protocol (Aug 14)
sat20 · GitHub (Aug 14)
@guanxing4757 Twitter (Aug 14)
@SAT20Labs Twitter (Aug 14)
@SAT20Labs Twitter (Aug 14)

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