Shakepay Responds to Data Breach, Provides Free Credit Monitoring
Shakepay, the Canadian crypto app that allows users to trade bitcoin (BTC) and ethereum (ETH), has announced a data breach that involved unauthorized access to certain customers’ personal information. The breach was discovered on December 13, 2023, and while it compromised data, it did not impact bank accounts, crypto wallets, or customer credentials.
Unusual Activity Leads to Discovery
Shakepay’s security team identified the breach after noticing unusual activity on an employee’s work device. They promptly responded to the incident by removing the compromised device from their network, following their incident response protocol to minimize the breach’s impact.
Lengthy Breach Period and Exposed Information
After conducting an investigation, Shakepay found that the breach was active between March and December 2023. During this time, personal details of a small segment of customers were accessed. The potentially exposed information includes names, emails, addresses, birth dates, phone numbers, occupations, trusted contacts, account balances, and transaction history. This incident underscores the challenges faced by digital currency platforms in protecting user data.
Customer Concerns on Social Media
Some individuals expressed their concerns on social media platforms, questioning the company’s ability to protect user data. Shakepay responded by advising customers to remain vigilant against potential fraudulent activities, urging them to enhance their account security through two-factor authentication, be cautious of suspicious communications, and change passwords regularly. They emphasized the importance of using official channels to log in and creating strong, unique passwords.
Support and Mitigation Measures
Shakepay has implemented additional security measures to support affected customers and is offering two years of free credit monitoring to help mitigate the risks of identity theft. The company has set up a dedicated email address for affected customers, is collaborating with law enforcement and regulatory authorities to investigate the breach, and is actively working to prevent similar incidents in the future.
Shakepay’s Commitment to Security
In their message to customers, Shakepay emphasized the importance of trust and their dedication to protecting the security of customers’ money and personal information. They assured users that they are actively monitoring the situation and taking all necessary actions to safeguard personal data and pursue those responsible for the breach.
Hot Take: Shakepay Prioritizes Security and Customer Trust Amid Data Breach
Shakepay’s swift response to the data breach demonstrates their commitment to addressing the issue and minimizing its impact. By implementing additional security measures and offering free credit monitoring, they are taking proactive steps to support affected customers. This incident highlights the ongoing challenge crypto platforms face in protecting user data. Moving forward, it is crucial for companies in the digital currency space to continually improve security measures and ensure the trust of their customers remains a top priority.
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