Crypto

Cryptocurrency ATM firm Coin Cloud suffers alleged hack

Cryptocurrency ATM firm Coin Cloud suffers alleged hack

The cyberattack may have led to the theft of US and Brazilian customers

Vx-underground, a pseudonymous cybersecurity expert that spotlights vulnerabilities in digital currency operations, posted on X (formerly Twitter) that an anonymous group of hackers has reportedly been busy. It’s claiming that it has stolen information from the personal accounts of around 300,000 customers of Coin Cloud, a Bitcoin ATM company.

Besides personal data, the hackers also claim to possess 70,000 customer’s selfie verification data. According to Vx-underground, the criminals say they’ve acquired details such as job professions, Social Security numbers, home addresses and other data from the hack. They also reported that they possess personal information of not only United States residents but also users from Brazil.

Additionally, the hackers reported that they’d accessed the source code for the Coin Cloud back end. The company hasn’t yet posted an official response to reports of the recent data breach.

The damage caused by the data breach can’t be underestimated, as the stolen source code is crucial for Coin Cloud’s ATM operations. The personal data taken also leaves customers in the US and Brazil vulnerable to other cyber crimes, including identity theft.

Coin Cloud was a leading provider of cryptocurrency ATMs, with over 4,000 machines across the US and Brazil, but filed for bankruptcy in February 2023 during a difficult period for the Bitcoin ATM industry. It still has a significant influence in the sector, with its extensive network supporting over forty cryptocurrencies.

According to Coin Cloud CEO Chris McAlary, the move helps the company rework its debt while protecting the welfare of its creditors. A February 7 court filing showed that the firm had between $100 million and $500 million in liabilities, with assets of between $50 million and $100 million.

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