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450,000 Coinmama Accounts Stolen in an Israel Crypto Security Breach

By Tracy Hannes | February 20, 2019
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450,000 Coinmama Accounts and Passwords Stolen in a Major Crypto Security Breach

As said in a public announcement published on February 16th, Coinmama – a multi-nation, Israel-based cryptocurrency exchange with more than 1,3 million customers – has undergone a system attack that affected a significant number of users. This leads to information leak up to 450,000 emails and passwords which were included in the company’s database prior to August 5th, 2017.

According to the company’s spokesperson, the Coinmama attack was only a part of a much bigger multi-platform cryptocurrency theft that targeted nearly 24 other firms throughout the world. Personal information of approximately 747 million breached accounts has later been put up for purchase on the hidden networks that are not open to public view – the Darknet.

Fortunately, Coinmama believed that none of the hacked passwords or accounts has been wrongfully used or exploited. The crypto firm has quickly disabled the leaked passwords and asked its customers to make newer and more secure ones for their website accounts. For further security, they also asked users to change their private email passwords in case they used the same password with the hacked ones.

“We are working closely with leading cybersecurity firms to understand the scope of the incident and enhancing our systems to detect and prevent unauthorized access to user information,” The company stated.

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