- A data breach has impacted crypto on-ramp service Transak, compromising the personal information of over 93,000 users
- Transak has confirmed that the leaked data includes user names and some basic identity details, though sensitive financial information is said to be unaffected
- Use of a company laptop outside work was the entry point
Transak, a widely used service that facilitates fiat-to-crypto transactions, has confirmed that a data breach has compromised the personal details of over 93,000 users. According to the company, the leak exposed names and basic identity information, but critical financial data such as credit card details or wallet addresses have not been compromised. The company has said that an employee using a company laptop for non-work purposes was the route of entry for the hackers.
Employee Laptop Was Ground Zero
The hack on Transak occurred when unauthorized parties gained access to certain customer information through a vulnerability in Transak’s systems. Transak CEO Sami Start told Coindesk that the data breach occurred when an employee “used their laptop for things other than work…that caused them to run a script – a malicious script – that gave access to their system.”
While users’ basic identity details have been compromised, Transak is confident that more sensitive financial data remains secure. The company’s spokesperson stated, “We take the security of our customers’ data very seriously and are conducting a full investigation. All affected individuals have been notified, and we are working closely with cybersecurity experts to ensure this does not happen again.”
Users and Partners on Alert
The breach has raised concerns among cryptocurrency users who rely on on-ramp services like Transak to convert traditional currencies into digital assets. With partners such as MetaMask, Binance, and Trust Wallet integrated into its platform, the leak has sent ripples across the crypto community. Many users are urging stronger security protocols for platforms that handle sensitive data related to financial transactions.
Transak has advised affected users to remain vigilant, monitor their accounts for any suspicious activity, and immediately report any unauthorized access. As part of its response, the company is implementing additional security measures to safeguard customer data in the future.
