Major Canadian Cryptocurrency Exchange Coinsquare Reports Client Information Breach

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Last Updated on November 27, 2022 by Bitfinsider

Coinsquare, one of the largest cryptocurrency exchanges in Canada, may have been compromised, although the business asserts that customer assets are “safe in cold storage and not at danger.”

Yesterday, the exchange, which describes itself as “Canada’s trusted platform to safely buy, sell, and trade Bitcoin, Ethereum, and more,” contacted clients to disclose a “data incident” in which an unauthorized third party accessed a customer database including personal information.

The breach, according to the email, revealed “customer names, email addresses, home addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction histories, and account balances.” Even though the email was delivered yesterday, Coinsquare detected the hack and warned consumers through Twitter last week.

“There were no passwords revealed. We have no proof that the bad actor saw any of this material,” the email added.

Coinsquare halted operations on its platform after discovering the vulnerability last week, sparking rumors of potential liquidity concerns in light of the monumental collapse of multibillion-dollar cryptocurrency exchange FTX earlier this month. Friday saw the return of full service, according to a tweet.

The firm stated, “We wish to underline that 100% of customer assets are maintained securely in cold storage and are not utilized for commercial activity.”

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