Table of Contents:

· ATOM trading sees "zero-dollar purchase" on Atomicals Market, which denies controversy over triple linkage

· Previously, Atomicals Market had multiple crashes due to load, and the community discussed switching to another trading platform

· What is the highly respected Atomicals protocol?

With the continuous popularity of the Bitcoin ecosystem, the Bitcoin L1 protocol Atomicals has also received increasing attention. However, in recent days, multiple community users have reported issues with order placement on the third-party trading market Atomicals Market (hereinafter referred to as AM), leading to numerous discussions within the community on how to optimize Atomicals-related transactions.

ATOM trading sees "zero-dollar purchase", Atomicals Market denies controversy over triple linkage

On the evening of November 14th, a faithful supporter of Bitcoin OG, community KOL, and the Atomicals protocol, @Ca1aba93, posted a dynamic on social media stating that there may be a "malicious BUG" in AM and hoped that users would cancel all orders on AM. Later, @Ca1aba93 continued to post, stating that a strange "zero-dollar purchase" incident had occurred on AM.

"The Wubi order on AM was bought by a transaction and the buyer did not pay any fees other than the transaction fee. The transaction was also displayed on the market. However, the purchase address (bc1p3nppyzxk7ysmalzelwxy3v0plcegudcpnalf4yaktzs6zq4rrlsqfahl6l) is an empty address, and the time of the Wubi transaction is not consistent. According to the descriptions of all the owners of the 5 damaged addresses, all the stolen $atom were sold on AM orders, and then were 'zero-yuan purchased'."

Source of the image: @Ca1aba93

@Ca1aba93 concluded that this is a rug event caused by an unknown vulnerability in AM. Possible scenarios include "scientists exploiting API vulnerabilities, forging buyer addresses, and splicing transactions" and "the platform being hacked, and all signatures in the library may be leaked." Moreover, "from the current situation, it is probably situation 1, but it is not certain whether there is a possibility of higher-level permission leaks."

Meanwhile, @Ca1aba93 also expressed the hope that @atomicalsmarket can immediately check the code, investigate the cause of the code incident, eliminate bugs, and compensate the victims for their losses. It has been found that using the AM web wallet to withdraw BTC will also result in asset burning. Users are advised to withdraw with caution.

Afterwards, the user @A87894990 listed detailed Wubi transaction addresses to illustrate "security issues on the platform".

Community user comments point out problems with their own transactions

Despite numerous facts and evidence pointing to security issues with AM, and many community users calling on AM officials to step forward and address the issue, AM initially did not admit to any problems. On the morning of November 15th, AM officials issued a statement stating that "everything is safe and reliable, it's just that some people are trying to disrupt our growth. All signatures are highly encrypted and not a single signature has been leaked. We are investigating this transaction because it was not processed by Atomical Market."

Meanwhile, AM is offering a high price in the comments section to purchase "TXID proof of transactions purchased for 0 USD".

"Do you have any on-chain data?"

"Send me the TXID proof of a transaction purchased for 0 USD and we will reward you with 1 BTC."

AM's "Denial of Three Links" has sparked a wave of community criticism. @Ca1aba93 also responded by saying "This malignant BUG, AM actually pushed all the responsibility away, it's simply speechless," and also said "If this matter is not dealt with, it will have a huge impact in the future if hundreds of atoms are stolen."

Afterwards, the AM parties involved, @BRC20Coins, responded in the comments section, vaguely hinting at a solution to the related issues. However, as of the time of writing, the AM official has not provided any further response.

Previously, Atomicals Market experienced multiple crashes due to high traffic, leading to community discussions about switching to a different trading platform.

On November 14th, the same day that AM was accused of "zero-dollar purchases," AM also experienced issues with dmint transactions. According to satsx.io data, the ecological token dmint of Atomicals has completed all engravings and is now priced at 116 satoshis/dmint (approximately $42.3 USD per sheet). According to community feedback, the cost of engraving each dmint sheet is between $5 and $10 USD. During the period of dmint issuance and listing, Atomicals Market experienced multiple crashes due to high traffic.

"#Atomicals market is under DDOS attack, and our technical team is working hard to fix it. This is the reason for the website's outage!"

Due to the instability and "unreliability" of AM as a third-party market, the community has proposed to switch to other platforms, such as SatsXio.

The highly respected Atomicals protocol, what is it?

Please note that the AM security incident is not related to the Atomicals protocol itself. However, behind this turmoil, there is a high level of expectation in the market that continues to be hot. At the same time, it also reflects to some extent the community's expectations for the Atomicals protocol itself.

Atomicals protocol was proposed in September. It is a way of organizing digital objects' creation, transfer, and update, essentially defined by a simple set of rules for a digital ownership chain. Atomicals use the smallest unit of Bitcoin, sat, as the basic "atom," with each sat's UTXO representing the token itself. 1 token = 1 sat.

Related reading: "BTC Derivative Protocol: Who is the Most Promising Alpha?"

When verifying an Atomicals transaction, you only need to query the corresponding sat UTXO on the BTC chain. The atomicity of ARC20 Token is consistent with that of BTC itself, and the calculation of ARC20 transfer is completely processed by the BTC underlying network.

Atomicals' design of binding UTXOs cleverly avoids the complexity faced by BRC20, is more decentralized, more BTC-native, and most importantly, more in line with the culture of the BTC community.

With the community's in-depth research on Atomicals, it was discovered that its long development time, founder's determination, and consideration of various scenarios and features make it a very complete protocol that is well-prepared. As a result, it has gradually gained strong support from the community.

As @Ca1aba93 said, "Real gold is not afraid of fire, and good agreements can withstand the test. The protocol has caused a huge dispute over interests, which is expected." The Atomicals protocol not only embodies the earnest expectations of many people for the Bitcoin ecosystem, but also may lead to disputes among many stakeholders.

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