Major United States-based Bitcoin automated teller machine (BTM) company Byte Federal has suffered a major data breach.
A Thursday filing with Maine’s attorney general shows that Byte Federal’s breach allowed the attacker to access the personal data of 58,000 customers, including 111 Maine residents. The company noticed the attack on Nov. 18, more than a month after it occurred on Sept. 30.
Venket Naga, co-founder and CEO of security-focused data storage service Serenity, told Decrypt that the incident shows the dynamic nature of constantly expanding cybersecurity threats. According to him, crypto industry firms “must adopt adaptive frameworks that evolve with emerging risks, posing risks to both the physical and underlying infrastructure involved with blockchain.”
CoinATMRadar data shows that Byte Federal operates 1,356 Bitcom ATMs in the United States. This is equivalent to about 4.3% of all crypto ATMs in the country.
The attack was reportedly a consequence of a third-party service being exploited. After detecting the incident a month later, Byte Federal decided
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Author: Adrian Zmudzinski
