$0 USD

NOVEMBER 2022

CANADA

COINSQUARE

DESCRIPTION OF EVENTS

"Just a month after becoming the first Canadian crypto trading platform to get registered by the Investment Industry Regulatory Organization of Canada (IIROC), Coinsquare suffered a data breach that compromised users’ personal information."

 

"On Nov. 19, Coinsquare had to temporarily shut down operations to investigate an unusual activity on its platform. However, several days of proactive measures allowed Coinsquare to resume operations gradually."

 

"The leaked database included users’ personal information, such as names, email addresses, residential addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction history and account balances."

 

"While the exchange has not detected any bad actors from accessing the breached information, the official communication cautions users to change their passwords, enable 2-Factor Authentication (2FA) and use different credentials for different platforms."

CoinSquare, the first Canadian crypto trading platform registered by the Investment Industry Regulatory Organization of Canada (IIROC), experienced a data breach compromising users' personal information. On November 19, the platform temporarily ceased operations to investigate unusual activity. Although proactive measures allowed for a gradual resumption of operations, CoinSquare confirmed in a follow-up email to investors that a third party likely accessed their customer database, exposing personal details such as names, email addresses, addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction history, and account balances. However, passwords remained secure in cold storage. While no malicious activity has been detected, users are advised to change passwords, enable 2-Factor Authentication, and use different credentials for different platforms. Coinsquare has yet to respond to inquiries about the incident.

Sources And Further Reading

 For questions or enquiries, email info@quadrigainitiative.com.

Get Social

  • email
  • reddit
  • telegram
  • Twitter

© 2021 Quadriga Initiative. Your use of this site/service accepts the Terms of Use and Privacy Policy. This site is not associated with Ernst & Young, Miller Thompson, or the Official Committee of Affected Users. Hosted in Canada by HosterBox.