The popular cryptocurrency portfolio management program CoinTracker may have had a data breach.

Data Hack On CoinTracker's Crypto Portfolio Software 4

By keeping track of users’ entire cryptocurrency holdings scattered across controlled and decentralized exchanges, staking pools, and other platforms, portfolio management software like CoinTracker alleviates users’ problems. For filing taxes, some users find it convenient.

The CoinTracker hack

This time, hackers sought out a centralized platform to gain access to the personal information of bitcoin users rather using decentralized financing (DeFi) protocols. The CT report claims that they found a list of emails that had been leaked. No other private or financial information was compromised, they claimed.

Users are angry and implore them to “take some responsibility” despite CoinTracker’s claim that they need not take any further action.

Users’ data on CoinTracker was compromised

A Twitter user said CoinTracker confirmed via emails that Twilio, a third-party provider, had been hijacked, allowing hackers access to CoinTracker users.

@troyhunt, CoinTracker confirmed via email that the third-party service was Twilio. Given that they use SendGrid, that makes sense. pic.twitter.com/6U5ouq1meB

— Zenexer (Parody) (@Zenexer) December 12, 2022

SendGrid, a customer communication platform for transactional and marketing email with headquarters in Colorado, is owned by Twilio. The employees’ accounts were compromised by hackers, who then gained access to CoinTracker’s mailing list.

Other than the email list and, in some cases, the mobile number, no other crucial information was obtained, according to posts on social media platforms.

Crypto Hacks

Being in its infancy, the crypto ecosystem has frequently been a preferred target for hackers. Users of Binance reported some unusual trades on Sunday. The trades raised questions regarding the possibility that hackers had obtained some users’ API keys via 3Commas and were using those accounts to carry out the trades. Binance, however, denied that there had been an API hack.

Hackers stole more than $400 million from the FTX exchange last month after it declared bankruptcy. In 2022, more than 125 attacks resulted in the theft of over $3 billion from consumers’ accounts, according to a Chainalysis analysis. The month of October saw the most hacker activity.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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