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Tuesday, February 27, 2024

Iranian crypto change Bit24 disputes claims of KYC information leak incident

Bit24.money, an Iranian cryptocurrency change, denied claims that it uncovered the private data of its platform customers on account of a misconfigured storage system.

Alleged KYC information publicity

Earlier in the present day, Cybernews researchers reported {that a} safety flaw on the platform led to the unintended publicity of its customers’ Know Your Buyer (KYC) information, together with IDs, passports, and bank card particulars, accessible to anybody on account of misconfigured cloud storage containers.

The researchers warned that the leak exposes the platform customers to threats of identification theft, phishing makes an attempt, and fraudulent transactions.

Cybernews stated the vulnerability has been addressed, with the storage now secured and inaccessible as of press time.

Bit24 is without doubt one of the main crypto buying and selling platforms in Iran. The Asian nation is without doubt one of the few international locations that has adopted a pro-crypto stance as a part of efforts to circumvent the sanctions imposed towards it by Western superpowers.

Bit24 counters claims

In an electronic mail response to Cybernews, Bit24 denied the prevalence of the vulnerability following an inner investigation.

Hossein Amini, a safety engineer at Bit24, asserted that the talked about misconfiguration is fake and inconsistent with the platform’s system structure and safety protocols.

“The reference to a misconfigured MinIO occasion granting entry to S3 buckets containing KYC information is wholly unfaithful and doesn’t align with our system structure or safety protocols. We are able to affirm that our MinIO setup and cloud storage containers stay safe, and there was no unauthorized entry to any delicate person information,” Amini reportedly stated.

Bit24 has but to reply to CryptoSlate’s request for added commentary as of press time.

Information breaches in crypto

In the meantime, incidents of knowledge breaches are prevalent within the crypto sector as a result of regulated platforms collect private information throughout registration. Whereas these Know Your Buyer protocols intention to curb illicit actions, secure storage stays a major problem.

Final 12 months, CryptoSlate reported about a number of crypto entities, together with Bitcoin-based fee platform Strike and chapter claims agent Kroll, struggling breaches that exposed their customers’ data.

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