Crypto On-Ramp Service Transak Targeted in Data Breach

Transak states that only personal details like names and basic identity information were exposed in the data leak. Yet, the ransomware group allegedly responsible for the incident asserts they’ve also acquired additional, more sensitive user data.

In a recent blog post on Monday, Transak announced the detection of a security issue that affected approximately 1.14% of their user community. Fortunately, no financial or vital data was breached in this incident.

The hacker group admitting to the incident stated that the leak involved further information from a broader group of Transak’s clients.

According to their statement in a public Telegram forum where they operate, this cyberattack affected all the customer verification data (KYC) that was processed using Transak’s systems. The ransomware group asserted that they obtained over 300GB of sensitive information, which encompasses personal documents like ID cards issued by governments, proof of residence, financial records, and selfies taken by users.

Transak offers developers solutions for linking users between traditional money (fiat) and digital currencies, including buying cryptocurrencies using a credit card. As stated on their website, Transak is integrated into popular blockchain wallets like Metamask and Trust Wallet, along with others. Notably, major crypto exchanges such as Coinbase and Binance.US utilize Transak’s services.

As a researcher, I’ve uncovered that the ransomware gang asserts they’ve disclosed merely a fraction of the data they’ve purloined. In the event Transak declines to remit the demanded ransom, they’ve warned they might disseminate the remaining data or auction it off to the party offering the highest price.