Coinmama data breach affects 450,000 users from the Israeli Crypto exchange. In recent events like the Cryptopia hack and the mysterious death of the CEO from QuadrigaCX we notice a pattern of user funds that are seemingly unsafe.
Approximately 450,000 e-mail addresses and passwords from users of Coinmama have been stolen as a result of a data breach. The hack took place on February 15 and is part of a larger hack where a total of 24 companies are affected.
Coinmama data breach – What happened?
After the leak was discovered, the exchange acted immediately. Each affected customer received an e-mail containing a number of instructions. This way, users must immediately create a new strong password. In addition, the exchange placed a message on the official website in which it says, among other things:
“As of February 15, 2019, 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.”
In addition to Coinmama, another 23 companies would have been affected by the hack. A total of some 747 million data would have been stolen. Until recently, all this data was on sale for $ 15,000 on “Dream Market”, a marketplace on the dark web. However, the sale of the data is no longer to be found and is probably only available to certain Dream Market users.
This hack only concerns e-mail addresses and hashed passwords. It has not yet been reported that cryptocurrencies have been stolen. In previous hacks of other exchanges sometimes hundreds of millions were captured, but fortunately this does not seem to be the case in this case.
Final Thoughts
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With the recent stories of hacks and data breaches at exchanges, we want to alert you to: Stay safe!
Always keep your private keys in your possession. Above all, consider the option to purchase a hardware wallet that secures your keys offline.
We applaud the Coinbase bug bounty program that recently rewarded a single bounty of $30,000! Hopefully more exchanges follow this example and let their users earn a few bounties, while they help to find and fix some bugs.
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