Recently, Cryptocurrency trading platform Atlas Quantum stated on its Facebook page that it had suffered a significant data theft that compromised personal details of around 261,000 of its customers.
SC Media reported that the cryptocurrency investment site experienced a data breach that affected more than 261,000 of its users. According to information available on Have, I have Been Pwned; the incident occurred on the 25th of August with the following details left exposed:
- Account Balances
- Email addresses
- Names
- Phone numbers
The Brazil-based company allows its users to buy and sell Bitcoins on various other cryptocurrency trading platforms to make profits based on Bitcoin price fluctuations and exchange rates, reports Cisomag.
“We would like to point out that this is not a steal of bitcoins in custody or violation of our accounts in the exchanges. However, our customer base was exposed. At the time of the incident, we took immediate steps to protect the database and passwords, and private keys remain encrypted”, said Rodrigo Marques, Chief Executive Officer at Atlas Quantum.
“For companies like Atlas, that store mass amounts of user data, reputation, and user data security are closely tied. Quickly identifying the cause of this breach and mitigating the threat of further data loss is a critical next step for Atlas and prevention should be top of mind for all companies that store high-value data”, Chief Technology Officer of Bitglass, Anurag Kahol said to Live Bitcoin News.
Atlas Quantum is an investment and trading platform based in Brazil that reportedly manages over $27 million in assets.
About Cryptocurrency
Cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies are a kind of digital currency, virtual currency or alternative currency.
Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain that serves as a public financial transaction database.
Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency.