Gigantic data leak at major Canadian crypto exchange

Once in a while it unfortunately happens that crypto companies have to deal with a large-scale data breach. This time the Canadian Coinsquare is a victim of this painful phenomenon. However, the exchange platform claims that the funds of its customers are safe cold storage and that there are no risks in that area.

“Canada’s most trusted crypto platform”

Coinsquare calls itself on its website “Canada’s most trusted platform to securely buy, sell and trade bitcoin and ethereum.” Yesterday, however, it had to warn its customers about a data breach. According to the message, a third party has succeeded in obtaining a database containing personal information from customers.

According to the email, this includes names, email addresses, home addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction history, and account balances. Although the email was only sent yesterday, the exchange platform already discovered the data leak last week and informed its users via Twitter.

“No passwords have been leaked. We have no evidence that the attacker has even accessed the data,” the exchange platform said in the email. Coinsquare immediately shut down all activity on the platform after the leak of customer data. With that, the rumors about a possible implosion, such as that of FTX, of Coinsquare immediately started.

The crypto assets are safe

In response, the company immediately tweeted that customer funds are safe. “We want to underline that 100 percent of customer funds are safely stored in cold storage and that we do not use those funds for day-to-day operations,” said Coinsquare.

The assets of its customers may be safe, but the question is whether we can say the same about the customers themselves. In principle, there is a lot of sensitive data on the street. This can lead to Coinsquare’s wealthier customers receiving unwanted visits from malicious parties who are aware that they own a lot of bitcoin.