Byte Federal, one of the largest Bitcoin ATM operators in the United States, has revealed a significant security breach impacting around 58,000 clients.
A notable financial services provider, Byte Federal, disclosed a major security breach that occurred on November 18, 2024.
An illicit entry was made into one of its servers through an exploit in GitLab, a widely-used third-party platform for project management and collaboration among developers.
The breach was swiftly identified by Byte Federal’s security team, who promptly disabled the system, isolated the intruder, and secured the compromised server.
As a precautionary step, the organization executed a thorough reset of all client accounts and enhanced internal security protocols, including passwords, management systems, tokens, and keys.
An external cybersecurity team has been appointed to conduct a comprehensive forensic inquiry to determine the full extent and root cause of the breach.
Byte Federal is collaborating with law enforcement to manage the situation. Notably, the company reassured its users that no funds or assets were accessed during the breach.
As per an SEC filing, the compromised data contained various customer details such as names, birthdates, addresses, phone numbers, email addresses, government-issued IDs, social security numbers, transaction histories, and images.
While there is no evidence of any personal data being exposed or exploited currently, Byte Federal is taking extensive actions to safeguard user data and address any potential worries.
Byte Federal has established a dedicated hotline for impacted clients and is extending assistance through its client support unit. They advise users to update their login credentials and remain watchful for any unusual activities or incidents of identity theft.
The company encourages users to regularly monitor their account statements and credit reports for any suspicious activities and offers guidance on setting up fraud alerts or security freezes with major credit bureaus.
Paul Tarantino, CEO of Byte Federal, affirmed the company’s dedication to protecting personal data and expressed regret for the inconvenience caused by the breach. “We are highly committed to securing your personal information,” Tarantino stressed. “We are deeply concerned about this situation and are taking all necessary steps to address it.”
The article Bitcoin ATM Operator Hacked, 58,000 Users’ Personal Data Compromised was first published on Cyber Security News.