Poloniex Crypto Exchange Confirms Data Breach 

Cryptocurrency exchange Poloniex has forced a password reset for all customers due to a leaked list of email addresses and passwords on Twitter. It is not the first time that Poloniex faces data breach.

31 December, 2019 | AtoZ Markets – Poloniex is one of the largest US cryptocurrency to cryptocurrency trading platforms. It was launched in January 2014. It offers strong security and advanced trading features. Based in San Francisco, it quickly established itself as one of the main digital currency exchanges in the world. It offers access to hundreds of cryptocurrencies. The platform provides traders features for analyzing the crypto market and executing transactions. Its services are offered worldwide. Goldman Sachs-funded Circle acquires US crypto exchange Poloniex.

Poloniex came under criticism after a major security breach wiped out over 12% of its bitcoins. Since the 2014 hack, the broker has slowly rebuilt its reputation on the security front. It has solid security protocols in place until now, since the vast majority of its customers’ deposits are stored offline.

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Poloniex Data Breach Requires Password Reset

On December 30, Poloniex sent an email to its clients to inform them about Data Leak. It informs its clients that a list of leaked email addresses and passwords could potentially be used to log into Poloniex accounts. The exchange forced a password reset on all email addresses that have an account with the exchange. The email reads as follows:

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“Almost all of the leaked email addresses listed do not belong to Poloniex accounts. But we are forcing a password reset on all email addresses.”

A Poloniex client convinced that the exchange email was a scam. And it turned to Twitter to draw attention to the perceived hoax. This put Poloniex customer support in the delicate position of having to explain that the email was real and not a scam. However, they replied:

“It’s a real email! Please reset your password for your account security,”

It is not clear how the email addresses and passwords landed on Twitter in the first place. And what percentage of the data breach contains current data from Poloniex customers is still unknown.

AtoZMarkets' team has contacted Poloniex regarding this matter but has not yet received any response. We will update you as soon as we get any info directly from the exchange.

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