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Coin Cloud Prevents Second Data Breach in a Year
Bankrupt crypto ATM company Coin Cloud has managed to prevent its second major data breach within the span of a year. According to a recent filing with the Maine Attorney General, hackers attempted to steal the personal information of approximately 58,000 former customers on September 30.
In a shocking revelation, it has been revealed that Coin Cloud suffered a major data breach last year, which saw the sensitive personal and financial data of about 300,000 customers across the United States and Brazil compromised. The stolen information included dates of birth and customer photographs, heightening concerns regarding the security measures in place at the company.
Following the incident, Coin Cloud filed for bankruptcy in February 2023 amid the crypto winter, sparking concerns over the personal data held on its servers. These fears were further substantiated when cybersecurity collective vx-underground revealed that hackers had claimed to have stolen 70,000 pictures of customers taken from cameras embedded in the ATMs, as well as the personal data of 300,000 clients, including full names, email addresses, telephone numbers, physical addresses, Social Security numbers, and dates of birth.
Despite failing to publicly disclose how the initial breach occurred, Coin Cloud has managed to contain this latest attempt at a hack by “immediately” shutting down its platform, isolating the attacker, and securing the compromised server. In addition, the company claims to have made swift enhancements to its systems, security, and practices.
While no data was stolen during this incident, Coin Cloud is still advising customers to remain vigilant and take certain precautions to protect their financial accounts. These measures include monitoring their accounts for any unusual activity, considering placing fraud alerts or credit freezes with major credit bureaus, being cautious of phishing attempts or suspicious communications, and consulting with identity theft protection services.
This latest incident serves as a stark reminder of the importance of robust cybersecurity measures, particularly in companies that handle sensitive personal and financial data. It also highlights the potential long-term risks associated with data breaches, as compromised information can remain vulnerable even after a company’s operations have ceased.
The development underscores the need for enhanced security protocols to prevent such incidents from occurring in the first place, rather than merely responding to them after the fact.
Source: fullycrypto.com
