Byte Federal, one of the largest Bitcoin ATM operators in the U.S., disclosed that hackers accessed sensitive personal data of 58,000 users during a significant breach. The Florida-based company, which runs over 1,200 Bitcoin ATMs across the country, reported that the breach exposed a wealth of private information, including names, addresses, phone numbers, government-issued IDs, Social Security numbers, user photographs, and transaction histories.
Hackers Exploit Third-Party Vulnerability to Breach Data
Byte Federal made the breach public in a filing with the Maine Attorney General’s office, noting that the attack took place on September 30, but was not detected until November 18. The company explained that the breach occurred when an unnamed hacker exploited a vulnerability in third-party software. The bug, which affected GitLab — a widely used developer platform — allowed the attacker to gain unauthorized access to the company’s internal systems.
Immediate Actions Taken by Byte Federal to Secure Accounts
Byte Federal has since taken steps to secure its users’ data, performing a full reset on all customer accounts. Additionally, the company updated its internal passwords and implemented other security measures to ensure that similar breaches would not occur in the future. Despite these measures, the breach has raised concerns about the security of cryptocurrency-related services and the potential long-term consequences for affected users.
Looking Ahead: Cryptocurrency Industry Faces Heightened Security Scrutiny
This breach underscores the ongoing risks in the cryptocurrency industry, where both individuals and companies must remain vigilant against potential cyber threats. With user data now compromised, Byte Federal’s response to the incident will be closely scrutinized, especially as the company works to rebuild trust with its customers.
For more details on this breach, visit TechCrunch.