January 9, 2024

Iranian Cryptocurrency Exposed Data of 230,000 Users

Bit24 Crypto Exchange

Bit24 Crypto Exchange

An Iranian cryptocurrency trading platform called Bit24.cash has reportedly exposed the sensitive data of around 230,000 users.

A recent investigation by Cybernews found that the platform had misconfigured a high-performance object storage system instance, which inadvertently allowed access to cloud storage containers containing the platform’s Know Your Customer (KYC) data.

The misconfiguration led to the exposure of sensitive details such as passports, IDs, and credit cards, as well as written consent to regulations for approximately 230,000 Iranian citizens. Bit24.cash has denied the claims, calling them “inaccurate and misleading” and stating that there is no evidence of a data breach or unauthorized access to sensitive user information.

In this regard, Hossein Amini, a security engineer at Bit24.cash, said: “The reference to a misconfigured MinIO instance granting access to S3 buckets containing KYC data is wholly untrue and does not align with our system architecture or security protocols. We can confirm that our MinIO setup and cloud storage containers remain secure, and there has been no unauthorized access to any sensitive user data.”

As per the report, Bit24.cash, along with other Iranian crypto exchanges like Wallex.ir, Excoino, and Aban Tether, accounted for 12% of all domestic and international funds that flowed to Iranian exchanges in 2022.

TRM Labs report suggests that 90.3% of the funds sent to Iranian exchanges came from external exchanges, 4.9% from smart contracts, and 4% via unhosted wallets. Although Amini reassured that user data is safe and secure, Cybernews advised concerned users to contact the platform’s support team regarding the matter.

Author profile

Whether you want to learn about NFT, Blockchain, Web3.0, Metaverse, or any other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.