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Coinsquare Acknowledges Breach Exposed The Client Database

Coinsquare had a data breach that exposed user information just one month after becoming the first Canadian cryptocurrency trading platform to be registered with the Investment Industry Regulatory Organization of Canada (IIROC).

On November 19, Coinsquare‘s operations had to be put on hold while it looked into some unusual activity on its platform. Nevertheless, preemptive efforts taken over many days allowed the exchange to restart operations gradually.

In a follow-up email to investors, the exchange acknowledges that the breach exposed their client database, which most likely allowed third-party access.

The official discovered message users to change their passwords, activate 2-Factor Authentication (2FA), and use different credentials for multiple sites, even if the exchange has not any actors gain access to the compromised information.

According to the latest update, the exchange has performed an upgrade and fixed the issue.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.