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Tuesday, March 2, 2021

BuyUCoin, Indian Exchange Leaked Users’ Data

BuyUCoin, a crypto exchange from India, has reportedly had a breach. Its users’ information was leaked onto the internet. The firm initially denied this claim. But they also added that the funds of its subscribers are safe. Several users’ personal data were leaked by some hacking group. This affected more than 3,25,000 investors. 

A source reported that this happened due to a group of hackers that call themselves ShinyHunters. These people together leaked the contact numbers, names, email addresses, bank details, as well as a tax identification number (PAN Card). The initial number of people under the effect was 3,25,000. But later, another source added that only 1,61,487 BuyUCoin users were affected. 

BuyUCoin’s Reaction

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BuyUCoin at first denied these claims. Rajshekhar Rajaharia from Twitter, a cybersecurity researcher, shared this news. He tweeted in with a screenshot of the leaked details. The details also included the users’ trading activities. The firm at first gave a statement saying that it was all “rumors” and that no user was affected. 

BuyUCoin later reported in another statement that it was “investigating” the “unlawful” and “malicious” activities that were taking place. They also mentioned the involvements of “foreign entities.” The firm also added that over 95% of the funds were secure since they are stored in cold storage. There could be several risks attached to this breach of digital tokens. 

A similar incident happened back in 2020 in the month of June with the firm Ledger. Its users eventually asked for hardware wallets. Several of them started then complaining about threatening emails. The emails consisted of threats related to digital ransom in cryptocurrency. 

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A user of the firm, BuyUCoin, later posted a tweet criticizing the company’s initial response. She called it “irresponsible” and expressed concerns about having their details used in any illegal or criminal activity.

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