CoinTracker Crypto Portfolio Software suffers data breach

The well-known crypto portfolio management software CoinTracker has suffered from a potential data breach.

Portfolio management software like CoinTracker solves users’ headaches by tracking their aggregate crypto holdings spread across centralized and decentralized exchanges and staking pools. Some users find it convenient for tax registration.

The CoinTracker Hack

This time, instead of decentralized finance (DeFi) protocols, hackers targeted a centralized platform to gain access to cryptocurrency users’ personal data. According to the CoinTracker report, they discovered a leaked list of emails. They reported that no other personal or financial information was compromised.

CoinTracker stated that there is no additional action users need to take, but users are frustrated and ask them to “take some responsibility”.

How CoinTracker users’ data was compromised

A Twitter user reported that CoinTracker confirmed via email that the third-party service Twilio was compromised, due to which hackers gained access to CoinTracker users.

Twilio is the parent company of SendGrid, a Colorado-based customer communications platform for transactional and marketing email. Hackers gained access to the employees’ accounts and eventually gained access to CoinTracker’s mailing list.

Source: Twitter

According to reports on social media platforms, no other critical information was compromised except the email list and mobile number in some cases.

Crypto Hacks

As the crypto ecosystem is at an early stage, it has repeatedly been a favorite target for hackers. On Sunday, Binance users reported some abnormal trades. The actions sparked concerns about whether hackers had stolen some users’ API keys through 3Commas and used those accounts to carry out the actions. However, Binance denied that there was any API compromise.

Last month, hackers stole over $400 million from the FTX exchange after it filed for bankruptcy. According to a Chainalysis report, hackers stole 3 billion dollars of users’ funds through more than 125 hacks in 2022. October was the biggest month for hacking activities.

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Disclaimer

BeInCrypto has reached out to the company or person involved in the story for an official statement on the latest development, but has yet to hear back.

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