Security Breach: 450,000 Users of Crypto Brokerage Coinmama Affected

Major crypto brokerage Coinmama is one of the many websites affected by a recent security breach and details of about 450,000 of its users have landed on the black market.

The crypto firm confirmed the breach in a blog post on its website on Friday, February 15. “Coinmama was informed of a list of emails and hashed passwords that were posted on a dark web registry,” the firm wrote.

Note a Crypto Hack

The security breach that affected Coinmama is part of a bigger hack which affected at least 30 notable websites. According to a report on TechCrunch, the hacker initially put close to 750 million records from 24 hacked sites up for sale on the dark web. The hacker added more data from breached websites during the week amounting to 841 million records from 30 major companies.

Apart from Coinmama, some other websites that were breached include MyFitnessPal, 500px and Coffee Meets Bagel, Houzz, and Roll20.

Details of Coinmama Breach

Coinmama said that the emails and passwords posted on the dark web were of those who registered on its platform before Aug. 5, 2017.

As at the time of its post, Coinmama said it there’s no reason to suspect the information has been used or will be.

It explained:

“…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.”

Security measures Taken

In its announcement, Coinmama said it was already investigating the security breach while it has also made moves to protect users. It says it is looking out for suspicious activity for unauthorized access while also prompting user who may have been affected to reset their passwords to more unique and complex ones.

Also, it warned users not to open emails or attachments from unknown senders or release personal data to third-party sites.

Recent Cyber Attacks in the Crypto Space

Although no cryptocurrencies were lost in the Coinmama incident, some crypto operators have not been as lucky. Last month, New Zealand crypto exchange Cryptopia was the victim of a cyber-attack which led to the loss of $23 million worth of cryptocurrency. The exchange has now been permitted to resume operations after investigations were carried out.

Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.


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