Transak hit with data breach affecting 1.14% of its user base

Transak, a institution providing fiat-to-crypto services, has reported a important information breach affecting much than 92,000 users.

In an Oct. 21 update, the steadfast revealed that the breach stemmed from a phishing onslaught targeting an employee’s laptop, starring to unauthorized entree to delicate idiosyncratic information.

According to Transak, the attackers exploited the employee’s credentials to infiltrate a third-party vendor liable for Know Your Customer (KYC) verification services.

As a result, idiosyncratic details — including names, dates of birth, passport and driver’s licence information, and selfies — were compromised for 92,554 users, representing 1.14% of the company’s full idiosyncratic base.

Despite the vulnerability of idiosyncratic data, Transak emphasized that nary fiscal details were compromised. According to the firm:

“No financially delicate information, specified arsenic email addresses, telephone numbers, passwords, recognition paper details, oregon Social Security Numbers, was affected.”

Transak provides non-custodial fiat-to-crypto gateways, allowing users to bargain and merchantability integer assets done integrations with fashionable crypto wallets and decentralized applications. Among its partners are large crypto platforms specified arsenic Binance, MetaMask, and Coinbase.

The institution has begun contacting affected users, assuring others that they volition lone beryllium contacted if their accusation is compromised. Transak has besides informed applicable authorities successful the UK, EU, and the US astir the breach.

The Transak breach highlights ongoing information challenges successful the crypto industry, peculiarly with phishing attacks that people employees to summation unauthorized entree to idiosyncratic information.

The station Transak deed with information breach affecting 1.14% of its idiosyncratic base appeared archetypal connected CryptoSlate.