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CoinMarketCap Hit: Over 3 Million Email Addresses On The Dark Web

By J.Austine Oct. 28, 2021, 5:54 p.m.
CoinMarketCap Hit: Over 3 Million Email Addresses On The Dark Web

Hackers attacked CoinMarketCap (CMC) earlier in October. The criminals stole data of over 3 million users. The crypto tracker confirmed the data breach recently.

According to HypeStat, more than 27 million people use the platform daily. Most of the individuals reside in Japan, India, and the US. The users visit CMC to price-track and stay updated on cryptocurrency.
The attack comes at a time when cyber-attack incidents are on the rise. The attacks mainly target the global crypto market. Still, some countries are skeptical about the use of cryptocurrency. However, the crypto industry continues to expand rapidly in various countries.
The hackers unlawfully obtained 3,117,548 CMC user email addresses on October 12. The criminals uploaded the data on hacking forums, as reported by CryptoPotato.

What Is CoinMarketCap’s Comment on The Hit?

CMC admitted a data breach occurred on their user data. They noted that the passwords to the email addresses remain safe. Even so, they denied the possibility of the leak through their servers.
CryptoPotato report quoted a CMC spokesperson commenting on the issue. The representative said:
“While the data lists we have seen are only email addresses (no passwords), we have found a correlation with our subscriber base. We have not found any evidence of a data leak from our own servers — we are actively investigating this issue and will update our subscribers as soon as we have any new information.”
However, the representative’s identity remains undisclosed. Moreover, the criminals behind the attack are unknown.

What’s The Impact of The Breach on CoinMarketCap Users?

The breach resulted in a flood of reactions on social media. The comments came from potential CMC users and cryptocurrency investors. The users claim they received security alerts for the past few days. The people asked where CMC stores t6heir user’s data. This is because they claimed it didn’t leak from their servers.
CMC assumes that the hackers sold the list of stolen email addresses. They compared it to other leaked emails to verify the data. They said:
“This is what the list of supposedly CoinMarketCap emails looks like – that’s because it’s the “cleaned up” email record from the Dark Web that appeared in full in previously leaked email sets.”

So, Is This the First Time the Crypto Market Was Hit?

No, this isn’t the first time the crypto-firm experienced a data breach. In the past years, crypto-companies got attacked by similar tactics. These include companies such as BitMEX and Ledger.
Binance experienced a breach in 2019. Over the attack, the hackers stole vital data. These included API keys and two-factor authentication data. Moreover, the hackers stole 7000 BTC. The criminals carried out frequent attacks on blockchains like Binance Smart Chain.
Additionally, hackers attacked PancakeHunny, a decentralized financial protocol. The criminals used instant loans and changed the liquidity pool prices.
The Ken reported a decrease in the gap between Coinmarketcap and CoinGecko. The effect arises from the increased CoinGecko website visits. As of October, CoinMarketCap hosted 29 million visitors. On the other hand, CoinGecko hosted 20.6 million monthly visitors. This marks a 135% increase in traffic for the Singapore-based company.

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