One of the biggest cryptocurrency exchanges in Canada, Coinsquare, may have experienced a security compromise, but the company insists that customer assets are “safe in cold storage and are not at risk.”
Customers were notified via email yesterday of a “data incident” in which an unauthorized third party gained access to a client database containing personal information. The exchange bills itself as “Canada’s trusted platform to securely buy, sell and trade Bitcoin, Ethereum, and more.”
Customer names, email addresses, residence addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction histories, and account balances were all exposed, the email claims. Despite the fact that the email was issued yesterday, Coinsquare had already tweeted about the hack last week.
Earlier this morning, we detected unusual activity on our platform and out of an abundance of caution, we decided to undergo an unscheduled maintenance period while we address this issue.
— Coinsquare (@Coinsquare) November 19, 2022
Given the historic collapse of the multi-billion dollar cryptocurrency exchange, FTX, earlier this month, worry about potential liquidity issues was sparked when Coinsquare paused its operations on its platform after discovering the vulnerability last week. On a Friday, full service was reportedly reinstated.
The company tweeted, “We want to emphasize that 100% of customer assets are safely maintained in cold storage and are not used for corporate activity.
