Canada’s largest Bitcoin exchange may have leaked its users’ data. The exchange says that funds held in cold wallets are safe.
Vulnerability in the giant Bitcoin exchange Coinsquare
Coinsquare, one of Canada’s largest cryptocurrency exchanges, was on the agenda with its vulnerability. Exchange managers claim that investor funds are “safe in the cold wallet and are not at risk.” The exchange, which touts itself as “Canada’s trusted platform for securely buying, selling and trading Bitcoin, Ethereum and more”, reported to customers yesterday of a “data incident” in which an unauthorized third party accessed a customer database containing personal information. sent an e-mail to.
According to the email, the breach disclosed “customer names, email addresses, residential addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction history and account balances.” Although the email was sent yesterday, Coinsquare noticed the breach last week. He informed his users via Twitter:
Earlier this morning, we detected unusual activity on our platform and out of an abundance of caution, we decided to undergo an unscheduled maintenance period while we address this issue.
— Coinsquare (@Coinsquare) November 19, 2022
In the statement of the exchange, “No password was revealed. “We have no evidence that any of this information was viewed by the bad actor.”
Vulnerability brings to mind what happened in FTX
Coinsquare suspended activities on its platform after detecting the vulnerability last week. In particular, the FTX crash earlier this month triggers speculation about possible liquidity issues. According to a tweet, full service was restored on Friday. The exchange reassured that funds were safe on pending days:
We would like to reiterate that 100% of client funds are kept securely in a cold wallet and not used for commercial activities.
We want to reiterate that 100% of client funds are safely held in cold storage and are not used for business activities
— Coinsquare (@Coinsquare) November 20, 2022
Bitcoin exchange recommends changing passwords just in case
Coinsquare also encouraged some caution, although it did not detect any malicious individuals accessing the breached information. It specifically warns users to change their passwords, enable 2-Factor Authentication (2FA), and use different credentials for different platforms. Meanwhile, another Canadian crypto exchange, Bitvo, has managed to withdraw its acquisition agreement with FTX, thanks to the long approval process of the deal by local regulators. The firm stressed that its operations were not affected as Bitvo did not invest in FTX or any of its subsidiaries.
More than $1 billion in client funds stuck in FTX crash
According to estimates, the bankrupt exchange neutralized $1 billion in client funds. The new CEO John J. Ray, whom you follow on Kriptokoin.com, is about to cooperate with Hayvn during the recovery process. An Abu Dhabi-based crypto trading firm has said it is interested in acquiring FTX. The company especially wants to use the advanced payment method system of FTX Pay.
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