Key Points:
Read more: Uniswap Fiat Services Now Boosted With Transak Support
In an update on Oct. 21, the company said the breach occurred because one of the employees’ personal laptops was targeted by a phishing attack, exposing sensitive user information.
The leak of employee credentials due to the Transak phishing attack allowed unauthorized access to a third-party KYC vendor used by Transak. The data breach contains names, dates of birth, passports, driver’s licenses, and selfies of users who have been affected-together making up roughly 1.14% of Transak’s entire user base.
Currently, the services offered by Transak run to different leading digital asset storage platforms which include Trust Wallet, Metamask, Ledger, and Coinbase among others. These services could be facilitating the exchange of traditional currencies into cryptocurrencies such as Bitcoin and Ethereum.
The breach has made the companies consider temporarily holding off on the integration with Transak until this gets resolved. However, the company reiterated that so far, no connection has been traced between the stolen KYC data and any sort of criminal activity.
Following the breach, Transak has contacted relevant regulators throughout the U.K., European Union and the United States-including the U.K.’s ICO. The company invites affected customers to get in touch with any questions and/or concerns. In the future, Transak says it will increase further the levels of security it deploys alongside the quality of training given to staff.
The Transak phishing attack is the latest in a string of cybersecurity incidents targeting companies operating in the cryptocurrency ecosystem. Just recently, the decentralized finance platform Radiant Capital announced that a hack robbed it of more than $50 million. Recently, Fidelity Investments also disclosed the breach of personal data of over 77,000 customers.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
San Francisco, United States, 28th October 2024, Chainwire
The Alchemy layer 1 blockchain aims to enable frictionless interactions between blockchain transactions and off-chain…
The Bankman-Fried prison has faced growing calls for reform amid reports of degraded conditions, rampant…
The financial sector is in the midst of a revolution, with blockchain technology and cryptocurrencies…
Discover how BlockDAG’s presale hit $105M, fueled by its latest brand video that showcases its…
Digital asset investment products inflows reached $901 million this month, marking the fourth-highest month on…
This website uses cookies.