Transak reveals recent ‘security incident’, over 90,000 users affected

British crypto trading company Transak has announced it recently became the victim of a ‘security incident’, impacting a total of 92,554 users.

An unknown threat actor was able to gain access to one of Transak’s employee’s laptop through a ‘sophisticated phishing attack’.

“Using the compromised credentials, the attacker was able to log in to the system of a third-party KYC [Know Your Customer, ed.] vendor that we use for document scanning and verification services. As a result, the attacker gained access to specific user information stored within the vendor’s dashboard,” Transak says in a public statement.

The attacker may have been able to view and copy sensitive and personal information, including full names, dates of birth, copies of passports and driver’s licenses, and selfie photos and videos.

A first investigation showed that the hacker had no access to financial information, such as credit card details and social security numbers. Furthermore, Transak confirms no email addresses, phone numbers or passwords have been leaked.

The crypto trading platform ensures its customers they have full control over their assets and that no funds are at risk.

Transak called in the help of forensic experts to conduct an in-depth investigation and get to know more on the impact and scope of the incident. The company promises to invest in more training of its employees and additional security software and systems to prevent phishing and social engineering attacks.

The crypto company has reached out to affected users and partners to tell them their personal information may have been stolen. They are advised to be vigilant and monitor and report suspicious activities. In addition, the Information Commissioner’s Office (ICO) and other regulators across the EU and US have been informed.

“We deeply empathize with how frustrating and disappointing this must be for the affected users. Our top company priority is taking action to protect users and fix any vulnerabilities to ensure nothing like this ever happens again,” Transak concludes.

According to Dark Web Informer, ransomware operation Stormous has claimed responsibility for the attack. The group claims to have stolen over 300 GB of user data and has posted some of the documents on its website.