Coinmama Suffers A Major Data Breach Affecting 450,000 Users

by | Feb 16, 2019 | Cryptocurrency, Cryptocurrency News

Coinmama | Data Breach | Users Data | Hack | Massive Hack

Coinmama, an Israel-based crypto brokerage firm has suffered a major data breach affecting 450,000 of its users. Reportedly the breach is a part of a massive multi-platform hack that has affected a total of 24 companies and 747 million records.

According to the reports, websites related to gaming, travel booking, and streaming sites were also part of the mammoth hack. As for Coinmama, the official company announcement made on Feb. 15, listed around “450,000 email addresses and hashed passwords” of the platforms’ users, who registered before Aug. 5, 2017, have been posted on a dark web registry:

“As of February 15, 2019, there has been no evidence of this data being used by perpetrators. Given the dated nature of the published data, we have no reason to suspect that any other Coinmama systems are compromised. Coinmama does not store credit card information.”

Coinmama’s actions for Damage control

The announcement further added apart from notifying their users, the platform’s response team has necessitated the potentially affected users to reset their passwords upon login. In addition, Coinmama is monitoring its array of systems for suspicious activity or unauthorized access.

The platform states that it is working to enhance its safeguards in order to track any external signals that the compromised data is being used. Along with the new password requirements for potential victims of the hack, the platform is ensuring that their passwords are robust and unique. It has also asked the users to avoid opening emails or attachments from unknown senders or providing any personal data to any third party sites.

Though the mammoth data breach also affects other sectors as well, this hack is the second high -profile system compromise in the industry this year. On Jan.15, New Zealand based crypto exchange Cryptopia was hacked, affecting over tens of thousands of Ethereum (ETH) wallets hosted by the platform.  The resultant breach continued for a couple of weeks after the incident’s detection and lead to an estimated loss of worth up to $23 million.

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Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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