Swan Bitcoin Discloses Data Leak Due to Phishing Attack on Newsletter Provider

by Samuel Pordengerg Aug 11, 2022 News
Swan Bitcoin Discloses Data Leak Due to Phishing Attack on Newsletter Provider

A recent data breach of its newsletter provider Klaviyo has affected the company.

According to an email seen by Decrypt, Klaviyo informed Swan Bitcoins of a security incident on August 7.

One of their employees was phished, which led to the compromise of their internal systems and the download of Swan's email list.

The email said that the email was leaked because you are on the email list.

On August 7th, Klaviyo, a company we use for email communication, informed us of a security incident that occurred on their systems.

A Klaviyo employee was phished, and 44 companies in the Bitcoin and crypto industries, including Swan, were affected.

Read Cory’s email below. pic.twitter.com/JsXaSGryMB

— Swan.com (@SwanBitcoin) August 10, 2022

The leaked data included customers' first names, email addresses, and information on how users joined the company's email list.

An outdated snapshot of historicalUSD deposit information was included in the leaked dataset. This might mean that only information about transfers between accounts was disclosed.

There is no evidence that customer information is being used. Potential attempts to get further information from customers were warned.

The email says to assume all emails, texts, and phone calls are not real.

Data leak hits 44 crypto firms

The incident was reported in a separate post by Klaviyo. One of its employees' login credentials was stolen by hackers.

The credentials were used to access the employee's account.

Klaviyo removed the threat actor from its systems after revocation of access for the compromised user. The company contacted law enforcement and engaged a leading cybersecurity firm to look into the incident.

The attack was on businesses that chose the platform for their marketing activities.

The threat actor used the internal customer support tools to look for accounts that were related to the digital currency. The threat actor downloaded list or segment information for 38 of the accounts.

The company said that hackers obtained customers' names, email addresses, phone numbers, and some account specific profile properties. The details of which profiles and profile fields were accessed or downloaded were given to the owners of the accounts.

Klaviyo, founded in 2012 and based in Boston, MA, raised a $320 million Series D funding round in May 2021. The company said it served more than 70,000 customers.

Should we hear back from Klaviyo, Decrypt will update the article with more information.

The data leak at Klaviyo comes on the heels of reports that another popular email marketing platform has been suspending the accounts of content creators.

The developments highlight the still-to-be-resolved reliance of Web3 companies on legacy Web2 solutions.

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