News Exchange

Canadian Exchange suffers a hacker attack. Millions of dollars in cryptocurrencies at risk.

coinsquare - Canadian Exchange suffers a hacker attack. Millions of dollars in cryptocurrencies at risk.

Un exchange Canadian Coinsquare it was endangered by a group of hackers who forced the system and managed to get their hands on over 5 email addresses and phone numbers belonging to their customers. Criminals are using this data to carry out attacks on SIM swapping. 

One of the alleged hackers, recently during an interview with VICE Motherboard he explained that the group was initially planning to sell the information, but then used it to make money with SIM swapping.

Cole Diamond, the CEO of Coinsquare defined how the theft occurred through a third party platform and not directly on their exchange. The CEO wanted to reiterate like Coinsquare systems have not been violated. As VICE pointed out, an employee managed to steal data from a third party system. The theft would have occurred about 18 months earlier.

So it wasn't the first person hackers who stole the data, too if they are now in their hands.

Because hackers want to earn with the exchange data? And what is SIM swapping? SIM swapping is a type of cyber attack that is based on the hacker's possession of the victim's SIM numbers. This number is used to reset passwords, enter a new one and subsequently use it to steal money or cryptocurrency

In any case, after the theft took place, Coinsquare decided to strengthen his security system. Stacey Hoisak provided more information saying: that following the theft of the information, contained in a database for customer relations and used for research purposes by one of their employees. 

For this reason the company decided to change the third party sales management service and finally updated the data administration policies, improving controls within the company.

Buying Cryptocurrencies? Exchange Binance Binance

Silvia Faenza

Graduated in Political Science and International Relations at the University of Salento, in the 2014. From 2015 he is in charge of content management for online companies and publishing agencies, mainly as a ghostwriter, copywriter and web editor.

Similar posts

Leave a comment

Your e-mail address won't be published. Required fields are marked *

Back to top button