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We Are So Back

First things first – a disclosure:

Throughout most of the month of January, the Satoshee website was in Maintenance Mode due to a security issue regarding the Satoshee Gift Card, Wallet and Loyalty Program implementation. The fraudsters were able to multiply one $10 gift card into hundreds of dollars on the site through the Wallet feature, use those dollars to purchase memberships – earn Loyalty Points on another account in the process – and then exchange those LPs to bitcoin rewards. Luckily, the loss itself was not huge, there were 100k sats in the Bitcoin Rewards pool of the Loyalty Program, out of which 81k were withdrawn. The attacker also had to make a legitimate purchase of a 10 USD Satoshee Gift Card first (paid 10.7k sats for it) so the total loss was 70,300 sats + downtime + the stress. The issue has been resolved and as such, the website and all features are back online.

In relation to the incident: if you are a grey/black hat hacker and come across any type of vulnerability on the SATOSH.EE website, please contact me at kontext@satosh.ee with the details and you will be reimbursed for disclosing the issue in an ethical manner.

In the meantime, a couple of other small updates have been made and implemented:

  1. Earning Loyalty Points from own purchases has been reinstated – registered users now earn a fixed rate of 1-10 LP (0.1-1%) per every $ spent regardless of the product category (the rate depends on the membership level)
  2. More ways to use Orange Coins – besides the BTC rewards, OC can now also be used to upgrade your membership level or to be donated to the Open Source Culture Fund
  3. Open Source Culture initiative will be officially launched in the month of February with a free-for-all contest for artists/writers/coders of any kind to submit proposals as to what they would create for X amount of bitcoin (amount to be determined as per the how much sponsor and patron interest there is, but will be 200k sats at a minimum as pledged by Satoshee Strategy) to be released into the public domain. The Satoshee company, registered Satoshee users as well as nostr users and sponsors of the contest can vote on who gets the prize and what will be commissioned to be created. There will also be a raffle with small prizes to those who participate in the voting process and/or share info about the contest on the web.

Open Source Culture represents the simple idea that ideas are free. That information yearns to be free. We acknowledge that copyright laws are unsuitable for a world that’s highly digitized; where content and information are, and should be, abundant and readily available for anyone.

If this sounds like something you would like to support, feel free to head on over to the Open Source Culture page for more info or donate sats directly to the Open Source Culture Fund:

On-chain: bc1qhcsf9cpwlfz6vee3nyjfyf0h4xf7lhpy3uyvee 

Lightning: open_source_culture@7a1e9620af.d.voltageapp.io

Follow/zap via nostr: npub1yxqdukmj70wlhwf6vg3fwkwcxmgdalahgsl7lcpka8gvs4xkew3s7p3a6x

Or get in touch if you/your company would like to become a sponsor for the contest. Some small updates have already been made to the Open Source Culture page regarding the nature of the initiative, what it intends to achieve and how it is going to go about it. More info about the initiative and the contest coming in the next couple of weeks!

The Satoshee YouTube channel has also been activated with a short introductory video:

Best regards,

Harder Kink AKA Kontext

Founder & CEO, Satoshee Strategy

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