Coincheck Suffers Data Breach But Funds are SAFU

Coincheck suffered a data breach that may have leaked users’ emails and personal information, including date of birth and phone number.

June 3 2020 | AtoZ Markets – Japanese cryptocurrency exchange Coincheck informed that it became a victim of a data breach a few days ago. While the company said that all customer funds are safe, the perpetrators may have gathered users’ personal information and emails.

Coincheck says it suffered a data breach

According to the statement from the Japanese platform, “a third party” had accessed its domain registration service during the period from May 31st to June 1st, 2020. The perpetrators changed the domain registration information and gained access to some customers’ emails sent within the same period.

Read also: Cybercriminals Gain $1.4B From Cryptocurrency Crimes in 2020

The announcement noted that approximately 200 clients fall into this category. The information possibly leaked to the “third party” includes email addresses listed in the recipient field. The leaked sensitive information also includes name, registered address, birth date, phone number, and selfie ID, said Coincheck.

The company has begun an investigation and advises customers to refrain from sending any emails to their regular support channel for the time being. Coincheck has reassured its users that “there is no impact on your assets at this time.”

As a result of the breach, the exchange has suspended its crypto remittance service. However, other services such as trading, deposits, and withdrawals remain active.

Coincheck previously drained for $530M

Coincheck crypto exchange has previously suffered the biggest hack in crypto’s history. In January 2018, Coincheck lost nearly $530 million in digital tokens. Japan-based online brokerage firm Monex Group later acquired Coincheck for $33.5 million, and the exchange is now a licensed entity.

Related: Coincheck Refund Losses of NEM Hack Victims

Last month, crypto lender BlockFi also suffered a similar data breach, which affected some of its retail clients. The breach lasted for “about an hour” and did not impact customer funds, BlockFi said at the time.

What do you think of the Coincheck data breach? Was it deliberately orchestrated or just a case of poor security? Share your thoughts in the comment section below.

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