In November, cybersecurity collective vx-underground wrote on X (formerly Twitter): An unknown hacker claimed to have infiltrated Coincloud.a bankrupt Bitcoin ATM company.
According to vx-underground, the hackers claim to have stolen 70,000 customer photos taken from cameras embedded in ATMs, as well as the personal data of 300,000 customers. Name, surname, email address, phone number, current occupation, address, etc.
No one has publicly claimed hacking. A month later, what actually happened to Coin Cloud remains a mystery, even to the company’s new owners.
Coin Cloud was a company that managed thousands of Bitcoin ATMs in the United States and Brazil. According to the official website, to the company Filed for bankruptcy in February. In July, genesis coinanother Bitcoin ATM provider, acquired 5,700 ATMs from the defunct Coin Cloud. According to a press release issued at the time. Genesis Coin itself was acquired by Andrew Barnard and his associates in early January. Owned another cryptocurrency ATM company called Bitstop.
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Mr. Bernard, who serves as CEO, Bitcoin ATMThe company, which rebranded itself after purchasing some of Coin Cloud’s assets in bankruptcy proceedings, told TechCrunch that his company launched an investigation following vx-underground’s tweet, but is unsure when the breach occurred or who identified it. He said he was unable to conclude whether he was responsible. He himself described the incident as a “mystery”.
“Coin Cloud has been hacked multiple times in the past when it was still a commercial company, so the data breach happened a while ago,” Bernard said. “I think the data is being held to ransom right now. It’s impossible to say. [when] There is little control throughout the software development process, with multiple international contractors having access to source code containing secrets. [database]” Bernard said in an email.
“Based on the information we have been shown, it does not appear that any services maintained by Coin Cloud have been recently compromised,” Barnard added. “Therefore, it is reasonable to think that this is data that was already stolen when Coincloud was hacked previously. It is an assumption, but a reasonable one. It’s impossible to say exactly what was compromised; so many vendors and internal employees had access to it that the same thing may have happened at different times over the years. ”
Barnard said that if someone were to obtain the source code containing the database’s administrator credentials, the hacker “would have access to all the files.” [Know Your Customer] Customer information. ”
Know Your Customer (KYC) is a check performed by technology and financial companies to verify a person’s identity to prevent fraud and money laundering. KYC checks often rely on customers submitting scans of their identification documents.
A former Coin Cloud employee told TechCrunch on condition of anonymity that Coin Cloud was “an absolute disaster to work for.”
“We didn’t have a security team,” the former employee said, adding that Coincloud had been hacked at least once in the last year and believed the company stored much of its data in plain text, meaning it wasn’t encrypted. He added that
Source: techcrunch.com
