CoinTracker Crypto Portfolio Software Suffers Data Hack

The well-known crypto portfolio management software CoinTracker has suffered a potential data breach.

Portfolio management software like CoinTracker solves users’ headache by tracking their overall crypto holdings spread across centralized and decentralized exchanges, and staking pools. Some users find it convenient for tax filing.

The CoinTracker Hack

This time, instead of decentralized finance (DeFi) protocols, hackers targeted a centralized platform to access to cryptocurrency users’ personal data. According to the CoinTracker report, they discovered a leaked list of emails. They reported that no other personal or financial information was compromised.

CoinTracker stated that there is no additional action users need to take, but the users are frustrated and ask them to “take some responsibility.”

How CoinTracker Users’ Data Was Compromised

A Twitter user reported that CoinTracker confirmed via emails the third-party service Twilio was compromised, due to which hackers got access to CoinTracker users.

Twilio is the parent company of SendGrid, a Colorado-based customer communication platform for transactional and marketing email. Hackers accessed the employees’ accounts and eventually got access to CoinTracker’s mailing list.

Source: Twitter

According to reports on social media platforms, no other critical information except the email list and mobile number, in some cases, was compromised.

The Crypto Hacks

The crypto ecosystem being at an early stage, has repeatedly been a favorite target of hackers. On Sunday, Binance users reported some abnormal trades. The trades triggered concerns about whether hackers had stolen some users’ API keys through 3Commas and were using those accounts to execute the trades. However, Binance denied that there was any API compromise.

Last month, hackers stole over $400 million from the FTX exchange after it filed for bankruptcy. According to a Chainalysis report, hackers stole over $3 billion of users’ funds through more than 125 hacks in 2022. Oct. was the biggest month for hacking activities.

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