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Breaching the Celsius’ History
Data breach and cyber threats are some of the major problems in the cryptocurrency market. Somehow both these processes are interconnected, when a data breach happens in an organization it gives a slight window to hackers as well.
Back in April 2021, Celsius suffered a data breach from a Third-Party vendor where hackers gained access to a third party email distribution. This created havoc in Celsius investors when the users started receiving emails, messages, and credit information from a fraudulent website claiming them to be Celsius’s official website.
The hackers didn’t just stop here, they managed to access phone numbers of many customers, trembling the Celcius communication system to pieces. The motive was to get access to the private keys and the external wallets, not the Celsius wallets, leveraging the customers’ trust to a different platform.
Celsius Defends – Spreading Awareness
Yet another incident of data breach occurred at the Celsius headquarters on July 26th, 2022 when an employee from Celsius’ third party vendor leaked the data. Reports from our closest sources revealed that the data was leaked by an engineer at Customer.io to a third-party bad actor. At the early stage of data breach, Celsius informed their customers by explaining the whole scenario. Moreover, the breach may open the doors for hackers to deploy the ‘phishing’ technique to rupture the communication systems and get control over crypto wallets of the users.
Breaking the Fahrenheit
The same kind of breach happened at OpenSea when one of their third party vendors leaked access to the client’s email to the bac actors in the industry. The data breach activities have frequently touched the financial grounds in the last few years. Whether it’s Celsius or their competitor BlockFi.
When talking about these there’s a whole list of cryptocurrency platforms including the lenders, marketplace or NFTs. One such case happened with the Ronin Network in May,2022 when cryptocurrencies were allegedly extracted from their platform worth 600 Million USD.
With the everlasting expansion of the cryptocurrency market, threats of cyber threats such as data breaches, Rug Pull, and Cryptocurrency extraction are coming rapidly into the picture. And the only way to fight this seems to be aware. According to the reports, more than 14.5 Billion USD in cryptocurrencies were stolen between 2014 and 2022.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
