Hackers Gain Unauthorized Access to Coin Cloud Customer Data
An unidentified cybercriminal or group of hackers has reportedly breached the security of Coin Cloud, a defunct Bitcoin ATM provider, gaining access to personal information for over 300,000 customers. According to reports from vx-underground, the hackers exfiltrated 70,000 customer selfies taken with Bitcoin ATM cameras for KYC verification and accessed personally identifiable data such as SSNs, email addresses, and phone numbers.
The breach also extends to individuals in the U.S. and Brazil. The method used by the hackers to access Coin Cloud’s database remains unclear, but they have allegedly stolen the source code to the entire backend system. This incident comes after Coin Cloud filed for bankruptcy protection earlier in 2023 due to business difficulties and legal problems, resulting in significant financial losses.
Coin Cloud Bankruptcy
In early 2023, Coin Cloud filed for bankruptcy protection after facing substantial losses. Court filings revealed that the company had 10,000 creditors and owed over $100 million to Genesis Global Capital, a troubled crypto lender.
Hot Take: Security Breach Highlights Ongoing Risks in Crypto Industry
The unauthorized access of customer data at Coin Cloud serves as a stark reminder of the ongoing security risks faced by individuals and companies in the crypto industry. With cybercriminals increasingly targeting digital assets and platforms, it is essential for all stakeholders to prioritize robust security measures to protect sensitive information and assets.
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