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Transak reports data breach affecting over 92,000 users

Transak reports data breach affecting over 92,000 users

Grafa2024/10/22 01:30
By: Isaac Francis

Crypto on-ramp service provider Transak revealed that a recent data breach exposed personal information of over 92,000 users. 

According to an Oct. 21 blog post by the company, a phishing attack led to the compromise of an employee's laptop, which allowed unauthorised access to a third-party vendor’s system used for Know Your Customer (KYC) document verification. 

The breach affected 92,554 users, or approximately 1.14% of Transak’s user base. 

Sensitive information, including names, dates of birth, passports, driver's licenses, and user selfies, was exposed. 

However, the company emphasised that no financial data such as credit card details, phone numbers, Social Security Numbers, or passwords were compromised. 

Transak, which provides a fiat-to-crypto gateway enabling transactions between fiat currencies and digital assets, integrates with major crypto wallets like MetaMask, Coinbase, and Binance. 

The platform confirmed that no financially sensitive information had been breached and reassured users that affected individuals were being notified directly. 

“If we do not email you, then you have not been affected,” Transak stated. 

The company also mentioned that data protection authorities in the United Kingdom, European Union, and the United States had been informed of the breach. 

This incident follows similar breaches in the financial sector, with Fidelity Investments reporting a data breach earlier this year affecting 77,000 customers between Aug. 17 and Aug. 19. 

Fidelity, known for offering crypto exchange-traded products, experienced four separate breaches within the last 12 months. 

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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