Coin Cloud, a bankrupt Bitcoin ATM company, has allegedly fallen victim to a data breach, as reported by a cybersecurity collective called vx-underground. Hackers claim to have accessed and stolen approximately 70,000 customer pictures and personal data of 300,000 customers, including sensitive information such as social security numbers and addresses. These claims have not been publicly confirmed, leaving the specifics of the breach and its impact on Coin Cloud unclear.
The alleged hack comes after Coin Cloud filed for bankruptcy in February, with its ATMs being acquired by Genesis Coin in July. Andrew Barnard, the CEO of the rebranded company crypto Bitcoin ATM, disclosed that the breach occurred some time ago and there is a possibility that the stolen data may have originated from prior security incidents.
According to Barnard, if the hackers were able to obtain the source code, it is likely they gained access to customer KYC (Know Your Customer) information. A former Coin Cloud employee, who chose to remain anonymous, reinforced this concern, stating that the company lacked a dedicated security team and stored data in plaintext without proper encryption.
Investigations are ongoing to ascertain the timeline and culprits behind the breach. Barnard described the incident as a “mystery,” given Coin Cloud’s history of previous hacking attempts. The lack of robust controls in the software development process and the presence of international contractors with access to the source code have made it challenging to determine when exactly the breach occurred.
The specific details of the breach and its impact on Coin Cloud remain uncertain, and investigations are underway to identify the responsible parties and determine when the breach occurred. The incident highlights the importance of robust security measures in the crypto industry and raises concerns about the potential misuse of customers’ sensitive information.