The crypto tracker acknowledged that data from over three million CoinMarketCap (CMC) customers was exposed earlier in October. According to a recent survey by analytics firm HypeStat, over 27 million users from the United States, India, and Japan, among other countries, visit the platform every day to price-track and remain updated on cryptocurrencies. This data leak occurs at a time when cyber-attacks aimed directly at the crypto-community are on the rise throughout the world. Despite the fact that numerous countries remain skeptical of cryptocurrency legalization, the crypto ecosystem is rapidly expanding in various areas of the world.
On October 12, malicious cyber thieves unlawfully got the email addresses of 3,117,548 CMC members and published them to hacker forums, as CryptoPotato revealed earlier this week. On the black web, these email addresses are now being exchanged.
CMC has admitted the data compromise but claims that the passwords associated with the exposed email accounts are secure. The platform has also ruled out the potential of a server-based breach.
“We observed a link with our subscriber base despite the fact that the data lists we’ve received are merely email addresses (no passwords).” A CMC official was reported in the CryptoPotato article as saying, “We have not found any indication of a data breach from our own systems – we are currently researching this matter and will notify our subscribers as soon as we receive any new information.” This spokesperson’s identity has not been revealed.
The perpetrators of this incident are still unknown.
The news sparked a barrage of reactions on social media, with some people (possible CMC users and cryptocurrency speculators) stating that they’ve been receiving security alerts for days. People have also asked CMC where their user data is housed if it wasn’t leaked from their servers.
However, this isn’t the first time a crypto-company has had a data leak. Several crypto-related companies, including BitMEX and Ledger, have had similar data breaches in recent years.
According to a Business Insider article, 32 hacking and fraud cases targeting the crypto industry have been documented so far in 2021. These assaults have a cumulative cost of about $3 billion (roughly Rs. 22,522 crores). The research also claims that the number of infractions is only increasing by 41% per year.