A cybersecurity breach recently targeted Byte Federal, a Bitcoin
$101,445.99
ATM provider in the United States, potentially exposing sensitive information belonging to around 58,000 customers.
Although the attack occurred on September 30, Byte Federal only became aware of it on November 18.
The Florida-based company informed Maine’s attorney general on December 12 about the hack, which reportedly originated from unauthorized access to sensitive client details. The breach was traced back to a software vulnerability linked to a third-party provider.
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Once identified, Byte Federal disabled its systems to secure operations. The company also emphasized that no customer funds or assets were affected.
However, an investigation revealed that the cybercriminals targeted various forms of personal data, compromising names, birthdates, contact information, transaction records, government IDs, and user photographs.
While no evidence has surfaced, Byte Federal has taken a cautious approach to address customer concerns. Byte Federal enlisted an independent cybersecurity firm to conduct a thorough forensic analysis of the incident’s causes.
Additionally, the company initiated protective measures following the incident, including resetting all user accounts, notifying affected individuals, and implementing enhanced security protocols.
Byte Federal further advised its users to update their login credentials and emphasized the importance of verifying personal information to ensure account security.
While Byte Federal works to recover from its breach, other cyber incidents make headlines. Recently, Radiant Capital fell victim to a $50 million cyber heist linked to North Korea. How did this scheme unfold? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
