A particular blog post has the crypto community abuzz: A hacker claims to have access to the ability to send Emergency Data Requests (EDRs) to several major crypto and media platforms, including Coinbase, Binance and Chainlink (LINK) . This claim has raised concerns about the security of user information and the possibility of serious financial loss.
A look inside the KodexGlobal operation
The hacker could achieve this through a KodexGlobal account. KodexGlobal acts as a communication platform between law enforcement and regulators, providing a secure way to request personal data from users for legal purposes.
The hacker is offering access to this account on BreachForums for $5,000 or $300 per EDR request, which provides the ability to request user information from platforms such as LinkedIn, Discord, Tinder in addition to the previously mentioned crypto platforms. This has raised serious concerns about the system being abused for illegal purposes such as identity theft, extortion, and even cryptocurrency theft.
Responses and measures to combat crypto hacks
Speaking to Cointelegraph, a Binance spokesperson responded to these findings, clarifying that there was no breach of Binance’s systems, but rather that there was suspicion that law enforcement accounts had been compromised.
“With a thorough documentation process and ongoing monitoring of compromised accounts, we remain committed to protecting our user data from any form of unauthorized access.”
Meanwhile, Hudson Rock, the cybercrime solutions provider that reported the incident, indicated that the hacker most likely gained access to law enforcement systems using compromised credentials obtained in previous breaches.
Pending further developments and official statements from KodexGlobal and other authorities involved, the crypto community remains vigilant about the potentially far-reaching consequences of this revelation. The incident is a reminder that in the digital age, the need for robust security measures is a top priority. Unfortunately, it still happens too often that crypto platforms fall victim to attacks and fraudsters are active everywhere in the market.