Transak hit by data breach, 92K users exposed

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As a seasoned analyst with years of experience in the ever-evolving world of cryptocurrencies and cybersecurity, I find myself once again grappling with the implications of yet another data breach, this time involving Transak. My heart goes out to the 92,554 users who have been affected by this unfortunate incident.

Crypto on-ramp firm Transak has disclosed a recent data breach that affected over 92,000 users. 

In my recent exploration, I discovered that a cybersecurity incident occurred involving one of our employees’ laptops. This breach was initiated by a sophisticated phishing attack, which unfortunately exposed certain user data that we manage through our vendor’s platform.

An unauthorized user gained access to our employee login details for a third-party Know Your Customer vendor we use for document scanning and verification. This breach exposed the personal data of 92,554 users, which accounts for approximately 1.14% of Transak’s total user base. The exposed information includes names, dates of birth, passport details, driver’s license numbers, and selfies.

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Transak facilitates a service that allows users to purchase and sell digital currencies using traditional money (fiat). This platform connects seamlessly with crypto wallets and decentralized applications (DApps) for transactions. The company offers non-custodial access points for prominent crypto wallets and platforms like Binance, MetaMask, and Coinbase. Transak asserts that no financial data was compromised during the recent security incident.

“After our thorough checks, we can confidently confirm that no financially sensitive information, including email addresses, phone numbers, passwords, credit card details, Social Security Numbers, or any other financial data, was compromised in any way.”

Users who might be impacted will receive an email from Transak. The company clarifies that if no email is received, it means you are not one of those affected. Furthermore, they’ve informed data protection authorities in the UK as well as regulators throughout the EU and US about this matter.

A similar occurrence impacted users of Fidelity Investments: This financial institution, which is among the issuers of crypto exchange-traded products (ETPs), revealed that a data breach occurred from August 17 to August 19, exposing personal information for more than 77,000 clients.

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2024-10-21 20:57