Byte Federal, a well-known Bitcoin ATM provider, has revealed a serious data breach that may have exposed the personal information of 58,000 customers. The company reported this incident in a regulatory filing with Maine’s attorney general. The breach happened on September 30, but the company only discovered it nearly two months later, on November 18.
Impact Of The Breach on Byte Federal Customers
Attackers exploited a vulnerability in the popular developer platform GitLab to access Byte Federal’s network without permission. They stole sensitive information, including names, addresses, phone numbers, Social Security numbers, government-issued IDs, transaction details, and user photographs.
Notably, the company acted quickly to fix the issue as soon as it was discovered. The company also cooperates with law enforcement and regulatory authorities to investigate the attack. They also plan to notify affected customers and offer resources, such as credit monitoring services, to help reduce potential harm.
In the meantime, Byte Federal customers should stay alert and check their financial accounts for any unusual activity. They should also reset their passwords, especially for those who have yet to do so. However, this incident shows how important it is to protect personal data as our financial interactions become more digital.
Hackers Return Funds to US Government After Breach
In October, a daring hacker breached a US government crypto wallet and withdrew $20 million. Surprisingly, the funds were returned within 24 hours. The twist left experts and investigators puzzled: was it a change of heart or something more calculated? The attackers did not refund all the stolen funds.
Blockchain investigator ZachXBT reported that the government crypto wallet received $19.3 million, 87% of the stolen funds.
The exact reason for this swift return remains mysterious, sparking speculation within the crypto community. However, the remaining funds yet uncovered are those transferred to instant exchanges like Switchain, HitBTC, and NExchange. These rapid transactions may suggest an attempt to liquidate part of the loot before returning the bulk.
The Surge of Crypto Scams and Hacks
The rapid rise of digital assets has led to a significant increase in scams and hacks despite the stringent regulations being introduced. Common scams include Ponzi schemes, phishing attacks, wallet breaches, and fake initial coin offerings, often employing social engineering tactics to deceive investors.
High-profile hacks, such as Mt.Gox and Bitfinex breaches, have resulted in staggering losses, highlighting vulnerabilities in established platforms. As these threats grow, there is a growing demand for regulatory measures to protect investors and enhance security.
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