Michaela Alvez
Byte Federal, the Bitcoin ATM operator, has confirmed a data breach that exposed the personal and transactional data of its customers due to third-party software vulnerabilities.
In a report submitted to the Maine Attorney General, the Florida-based ATM service provider said that it discovered the data breach on November 18. However, the attack had actually occurred 49 days earlier, on September 30.
The report revealed that the hack compromised the personal information of 58,000 customers, including 111 from Maine. Exposed data included names, addresses, phone numbers, government-issued IDs, Social Security numbers, customer account details, transaction history, and user photos.
Investigators traced the source of the data breach to a vulnerability in third-party software. The company revealed that the attackers took advantage of a flaw in GitLab, a popular platform used by developers.
The company’s filing stated that no assets were lost as a result of the attack. Upon discovering the breach, Byte Federal swiftly suspended operations to prevent further damage. The company took immediate action by resetting all customer accounts and updating internal security passwords to strengthen protection and minimize the risk of additional unauthorized access.
In a November blog post, the Bitcoin ATM operator confirmed that the GitLab vulnerability had been resolved. “Our priority is to ensure the security of our customers’ information and the integrity of our services.” the company wrote.
In light of the data breach, Byte Federal has recommended that users take specific steps to secure their accounts. These steps include updating their login credentials, such as usernames and passwords.
The company stated that its system would require extra layers of detailed verification as a precautionary step.
Byte Federal operates over 1,350 Bitcoin ATMs across the United States, making it one of the country’s top crypto ATM providers. With a market share of 4.3%, the company ranks eighth among the leading Bitcoin ATM operators in the U.S. The company’s widespread presence in local communities allows users easy access to Bitcoin and cryptocurrency transactions.
Read More
- Bitcoin ATMs Emerge as Key Tools for Scammers in Growing Fraud Cases
- London Trader Accused of Running Illegal Crypto ATMs Faces Court
- Australia Becomes Third-Largest Market for Crypto ATMs Amid Money Laundering Concerns
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
