BuyUcoin Cryptocurrency users data leaked

BuyUcoin Cryptocurrency user data compromised, lakhs of people affected
  • BuyUcoin’s platform was insignificant turmoil as the banking details and KYC information of numerous consumers was allegedly revealed on the dark Web
  • Rajshekhar Rajaharia, a cybersecurity researcher, reported the discovery of the respective data to Gadgets 360 earlier this week
  • The researcher stated that BuyUcoin suffered a data breach in September last year, which could have possibly caused the latest leak on the dark Web

BuyUcoin is a platform associated with crypto wallets and exchanges where institutions and customers can access transactions in digital assets like Bitcoin, Ethereum, and so on.

The details of the data leaked

Recently, BuyUcoin’s platform faced a significant struggle when the data of its consumers was compromised. The banking and KYC information of various customers of BuyUcoin was allegedly revealed on the dark Web. The respective details included personal information like the users’ names, mobile numbers, email addresses, and claimed a security researcher. Even their deposit history has been leaked. 

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The data dump available on the dark Web allegedly constitutes the bank details along with the now-your-customer (KYC) information. This KYC information further includes PAN and passport numbers of the consumers accessing the BuyUcoin platform. 

However, the company refuted every possibility of a leak. They argued that the surfaced data heap was of some fake accounts.

The discovery of the controversial leak on the dark web 

Rajshekhar Rajaharia, a cybersecurity researcher, said to Gadgets 360 that he discovered the data dump on the dark Web earlier this week. He added that the number count of the victimized users exceeded three lakhs. It is to be noted that the company professes to have above 3.5 lakh users in total. 

Rajshekhar stated that BuyUcoin suffered a data breach in September last year. According to him, that breach could cause the latest leak on the dark Web. Besides, the data dump also involved a section with credentials of the admin. This data, the researcher explained, could be then employed to avail access to the server.

Rajshekhar added that the bad actors could use this leaked data to conduct fraudulent attacks against individuals. Further, the data could facilitate hackers with the credit score details of the targets through their transactions history.

While the CEO and Co-founder of BuyUcoin, Shivam Thakral, denied the leak, a person who became a soft target of the respective hack responded to Gadgets 360. He claimed that his bank and KYC details were out there on the platform of the dark Web. However, Shivam outrightly refuted these allegations as a stunt to defame the company.

Thus, it will be interesting to see how the respective episode victims respond to their privacy concerns. There is a possibility of stake withdrawals from the company considering the current context and its record of breaches

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Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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