Data from over three million CoinMarketCap (CMC) users was leaked in early October, the crypto tracker confirmed. Every day, over 27 million people from the US, India and Japan visit the platform to track prices and stay up to date on cryptocurrencies, among other things, as a report by statistics firm HypeStat recently claimed. This data breach comes at a time when cyber attacks, specifically targeting the crypto community, are on the rise around the world. Although several nations are still skeptical of legalizing cryptocurrencies, the crypto space is experiencing rapid expansion in many parts of the world.
Registered email addresses of 3,117,548 CMC users were illegally obtained by nefarious cyber criminals on October 12 and uploaded to hacking forums, CryptoPotato reported earlier this week. These email IDs are now traded on the dark web.
CMC has acknowledged this data breach while advising that the passwords for these leaked email addresses remain secure. The platform has also denied the possibility of this leak through their servers.
“While the data lists we’ve seen are just email addresses (not passwords), we’ve found a correlation with our subscriber base. We have not found any evidence of a data leak from our own servers – we are actively investigating this problem and will inform our subscribers as soon as we have new information, ”the CryptoPotato report quoted a CMC representative as saying. The identity of this speaker remains unknown.
As of now, the brain behind this attack is unknown.
The development has sparked a flurry of reactions on social media, with some people (potential CMC users and cryptocurrency investors) claiming they have received security warnings in the past few days. People have also questioned CMC that if the data wasn’t leaked from their servers, then their user data would be stored elsewhere.
So either @CoinMarketCap or @twitch are lying about passwords not being included in their data leaks.
These are the only leaks that could possibly have caused the handful of critical security alerts I’ve received.
(Eat my 2FA, by the way)
– GFUEL | Tomasina ???? (@itsTomasina) October 25, 2021
My data protection leak by your company pic.twitter.com/rSH2AONdKg
– Rajesh sapkal (@ Rajeshsapkal19) October 22, 2021
“There was no leak from our own servers.” So where did the leak come from? If not your “own server”, where else did you store data?
– Facted (@facted_net) October 23, 2021
However, this isn’t the first time a crypto company has suffered a data breach. In recent years, crypto-associates like BitMEX and Ledger have seen similar leaks, among others.
According to a report by Business Insider, 32 incidents of hacks and fraud targeting the crypto space have been reported so far in 2021. The total value of these attacks is nearly $ 3 billion (approximately 22,522 billion rupees). According to the report, the number of crimes is only growing by 41 percent each year.
Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.