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BlockFi Confirmed Unauthorized Access To Data Hosted On Hubspot

March 19, 2022 | by olympieioncryptonews

BlockFi Confirmed Unauthorized Access To Data Hosted On Hubspot

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BlockFi confirmed unauthorized access to data hosted on Hubspot which is a third-party vendor for BlockFi and stored data such as email addresses, names, and phone numbers that have been away for conducting phishing attacks so let’s read more today in our latest cryptocurrency news.

The New Jersey-based crypto financial institution BlockFi confirmed the data breach in its third-party vendor Hubspot. Its warning about the breach aims to deter the intentions of some bad actors in using the data for fraudulent activities. According to the announcement, the hackers gained access to BlockFi’s client data and they were stored on Hubspot:

“Hubspot has confirmed that an unauthorized third-party gained access to certain BlockFi client data housed on their platform.”

As the third-party vendor for BlockFi, Hubspot stored users’ data such as names, email addresses, and phone numbers and it has been known that bad actors used such information for conducting these types of attacks and gaining access to the accounts via user-provided passwords. At the time of writing, BLockFi is supporting the Hubspot’ investigation to gain clarity on the impact of the data breach. While the details of the breached data haven’t been identified yet and revealed, BlockFi reassured some users by outlining that personal data like passwords, IDs, and social security numbers should not be stored on Hubspot.

On another note, BlockFi acknowledged that time is of the essence and they are expediting their investigations to identify the extent of the breach:

“Additional information will be emailed to all impacted clients in the coming days.”

The investors were advised to be wary of the company communication that demanded urgency in requesting/changing personal details like passwords and wallet addresses. On Friday, the recently launched NFT project Rare Bears was attacked whcih resulted in a theft of $800,000 in NFTs.

blcolfi

Also as recently reported, BlockFi has to pay $100 million to settle the investigations from the US SEC and multiple other state securities regulators. According to reports, BlockFi will also discontinue new high-yield accounts for most of the US residents. BlockFi’s business model is offering customers high-interest rates for locking up crypto like BTC, Tether, and Ethereum into savings accounts. The company loans those funds out at a higher rate but the SEC alleged that these BlockFi Interest Accounts that can deliver yields of up to 5-10% are unregistered securities.

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