While the cryptocurrency market has been facing regulatory pressures and massive hacking attacks for a long time, a new announcement from this platform has investors worried! Here are the details…
Cryptocurrency platform MetaMask has worried investors!
ConsenSys, the parent company of cryptocurrency wallet MetaMask, has announced a cybersecurity breach in user data, another cause for concern for the crypto community. However, the company states that the MetaMask browser extension and mobile application are safe. The cryptocurrency wallet does not actually store user data because the software is not under surveillance. But the company said on Friday that the data breach occurred at the end of one of its third-party service providers.
cryptocoin.com As we reported in November 2022, Metamask came under criticism after its updated privacy policy authorized a communications protocol provider to collect user data such as IP address and Ethereum wallet address when transacting. Following widespread concerns about the collection of user data, Consensys later clarified its privacy policy.
Consensys released a statement on the user data breach on Friday. In the statement, it was stated that the incident was limited to approximately 7,000 users who submitted their personal data to MetaMask customer support between August 1, 2021 and February 10, 2023. The company announced that the browser extension and app are safe:
The MetaMask browser extension and mobile app security were not affected by this incident. MetaMask users will not be affected if they do not submit their personal data to the MetaMask customer support ticket system.
Company clarifies critical points about ’18-month data breach’
The cryptocurrency company has made some clarification on the type of user data being compromised. While the company stated that user e-mail addresses may have been leaked due to the authorization of the customer support provider, other data such as financial information, name, surname, date of birth, phone number and mailing address may have been detected for 18 months, he said. In the statement, it was stated that an estimated 7,000 users worldwide were affected by the incident.
While the nature and extent of the data breach has yet to be fully determined, such events could pose further risks to crypto market vulnerability from potential regulatory risks in an already hostile environment. This seems all the more true given that the crypto ecosystem is largely unregulated. Some experts recommend that investors be careful in the face of this risk.
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