Bit24.cash, an Iranian crypto trading platform, has denied a data breach after Cybernews, a cybersecurity news outlet, reported that it exposed sensitive data of almost 230,000 users. The platform claims that its cloud storage system is secure and that the report is inaccurate and misleading.
Cybernews Uncovers KYC Data Exposure
Cybernews, a cybersecurity news outlet, conducted an investigation that revealed that Bit24.cash had a misconfiguration in its cloud storage system. This error resulted in unauthorized access to the platform’s Know Your Customer (KYC) data, a critical component in regulatory compliance and user verification processes.
The data exposed includes passports, IDs, credit cards, and written consent to regulations. This breach is particularly alarming, given the sensitive nature of the information involved.
Cybernews stated that the data exposure could lead to identity theft, fraud, phishing, and other cyberattacks on the affected users. The news outlet also said that the breach could have serious implications for the platform’s reputation and regulatory status.
Bit24.cash Refutes Data Breach Claims
In response to these allegations, Bit24.cash spokesperson Hossein Amini refuted the claims, stating that the report was inaccurate and misleading. Amini emphasized no evidence of a data breach or unauthorized access to user information. He further asserted that the company’s MinIO instance and cloud storage containers were secure, contradicting the findings of the Cybernews investigation.
Amini also accused Cybernews of having ulterior motives and trying to damage the platform’s reputation. He said the news outlet was spreading false information and creating panic among the users. He urged the users to trust the platform and not to fall for the rumors.
Users Express Concerns Over Data Security
Despite the reassurances from Bit24.cash, the contrasting claims from Cybernews have led to heightened concerns among the platform’s users. While Bit24.cash maintains the security and integrity of its systems, the reported breach has prompted users to question the safety of their personal data.
Some users have expressed their dissatisfaction and frustration on social media and online forums, demanding more transparency and accountability from the platform.
Cybernews has advised concerned users to contact Bit24.cash support for more information and reassurance regarding their data security. The news outlet has also recommended that users change their passwords, enable two-factor authentication, and monitor their credit reports and bank statements for suspicious activity.
