Cyber attack on cryptocurrency payment processor Transak impacted 92,000 customers

Miami-based cryptocurrency payment processor Transak said it experienced a data security incident that compromised the sensitive personal information of more than 92,000 individuals.

 

In a notice of data security incident on its website, Transak said that it recently discovered unauthorised access to its internal network that resulted from threat actors employing a sophisticated phishing attack to compromise one of its employee’s laptops.

 

The company immediately launched an investigation, with assistance from external cyber security experts, to determine the impact of the unauthorised access on its network.

 

Transak’s investigation revealed that “using the compromised credentials, the attacker was able to log in to the system of a third-party KYC vendor that we use for document scanning and verification services.”

 

“As a result, the attacker gained access to specific user information stored within the vendor’s dashboard,” it added.

 

The compromised data included names, dates of birth, passports, driver’s licenses, and Selfie photos and videos. Transak added that the data security incident affected 92,554 users who represent 1.14% of its user base.

 

“After our thorough checks, we can confidently confirm that no financially sensitive information, including email addresses, phone numbers, passwords, credit card details, Social Security Numbers, or any other financial data, was compromised in any way.

 

“Our financial systems’ security measures remain robust, and we continue to protect all critical data, ensuring the highest level of privacy and security for our users,” Transak added.

 

The company has already started notifying all affected users. Also, data protection authorities, including the Information Commissioner’s Office (ICO) and other regulators across the EU and US have been notified about the incident.

 

While Transak found no evidence of the compromised information being misused, it advised all affected individuals to regularly monitor their credit reports, account and benefit statements and report any suspicious activity to law enforcement authorities.