Gemini Cryptocurrency Exchange Suffers Data Breach via Third-Party Vendor December 15, 2022 December 15, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 15, 2022 by Kelly Cromley

Gemini Cryptocurrency Exchange Suffers Data Breach via Third-Party Vendor

Gemini-related third-party vendor believed to have had a data leak on or before December 13. As per papers available, hackers gained exposure to 5,701,649 email details and incomplete phone numbers belonging to Gemini clients. In the latter instance, it seems that cybercriminals did not have access to the complete phone numbers, since key digits were obscured. Gemini confirmed in a blog article that the hack looked to be the “product of an occurrence at a third-party contractor” and warned of continuous “phishing efforts” as a consequence of the data exposure.

The database that was compromised did not contain highly confidential information like names, addresses, or some other Know Your Customer (KYC) data. Furthermore , certain emails were duplicated in the record; hence, the count of impacted consumers is probably less than the aggregate number of rows. Gemini has 13 million active users at present. Gemini has released the following message in regards to the situation: “Certain Gemini clients have lately been targeted by phishing attempts that we suspect originated from a third-party vendor issue. This event resulted to the acquisition of email info and incomplete phone numbers for Gemini customers. This third-party issue did not affect any Gemini account data or systems, and all money and client profiles remain safe.”

Even minor security vulnerabilities in the Web3 business might have severe repercussions. Earlier in April, a similar issue involving bitcoin hardware wallet company Trezor occurred. By hacking a third-party bulletin provider, cybercriminals acquired exposure to Trezor users’ email accounts, which they then used to target victims in a phishing scheme, resulting in financial losses. The Gemini cryptocurrency exchange fell unavailable for a short period of time throughout the day as a result of the information breach concerns. While preparing this report, the cryptocurrency exchange is fully operational.

Not properly managed. This is exactly how a customer characterized the disclosures made on December 14 about the exposure of the email accounts and incomplete phone numbers of 5.8 million Gemini clients. Gemin has blamed the breach to a “third-party event,” occurred considerably sooner than originally believed.

In the weeks earlier, unusual complaints of users getting customized phishing emails started to surface on the main r/Gemini subreddit. Redditor u/DaveJonesBones reported in a November discussion that he got a specific phishing email from a Gemini-only registered address: “It offered a Cyberbroker NFT dump utilizing Opensea branding. I believe I got a similar message in October, but I erased it without studying it. Today I got the jitters since I opted out of receiving commercial emails from Gemini.

In response, a Gemini spokesman stated: “I am notifying our security staff. Thank you for informing us.”

In a separate topic captioned “Gemini has been hacked. Gemini user information is being exploited for complicated phishing efforts” Around two weeks ago, u/Exit 127 alleged to have gotten a phishing email from a MetaMask impostor claiming the necessity to “synchronize my wallet owing to the merging.” The user further said, “I utilize email nicknames so that every online account is associated with a distinct email.” This phishing effort targeted the email address associated with my Gemini account.”

The previous week, a similar message by u/Opfu stated that Gemini had already been cognizant of the problem. According to u/Opfu, “I just received an email indicating my Exodus wallet was connected to the Binance crypto exchange from Bermuda” (phishing of course). I utilize that email address EXCLUSIVELY at Gemini. Gemini verified a data leak at a third-party provider in response to my inquiry. Email addresses and incomplete phone numbers for customers. When I inquired whether they planned to notify users, they stated, “Thank you for your input.”

Some other person posted, “I had the same issue. Clearly, the message was a phishing effort. I was perplexed as to how Exodus obtained my Gemini email address, so I concluded that it had been hacked at some time.”

Gemini said in a public announcement that “no Gemini customer data or systems were affected by this third-party event” and that “all monies and client accounts are safe.” In addition, it cautioned of “increasing phishing attempts” due to the third-party intrusion. The security incident’s date was not mentioned in the medium post.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.