- Byte Federal reports that the personal data of 58,000 users was compromised in the breach.
- They assured no user funds or assets were compromised.
Leading Bitcoin ATM operator in the United States, Byte Federal, has reportedly announced a data breach might affect around 58K users. The breach allegedly occurred on September 30 and was discovered on November 18, as per the filing with the Maine Attorney General’s Office.
Notably, sensitive customer data, including full names, DOBs, contact numbers, user photos, house addresses, government-issued IDs, email contacts, social security numbers, and transaction activities, may have been exposed.
Preventive Actions by Byte Federal
Byte Federal has initiated various preventive measures to secure its systems and protect user data, in response to the breach. The measures include a reset of all customer accounts and an updation of internal passwords and password management systems. Also reviewed network security tokens and keys.
Moreover, they have issued notices to the affected customers and a press release detailing the incident was published. As an additional precaution, users were advised to reset their login credentials. In addition, Byte Federal assured that the breach did not compromise any user funds or assets.
It’s crucial to note that the incident came to light when the cryptocurrency ATMs were under scrutiny for their role in facilitating illicit activities. Regulators in countries such as the United Kingdom, Australia, and Germany have raised concerns about the uncertainty associated with ATMs. It leads to increased enforcement actions and supervision against unlicensed operators.
On the other hand, Byte Federal is currently suing Bitcoin Depot, another leading crypto ATM operator, for trademark infringement. Byte Federal alleges that the Bitcoin Depot’s branding violates its trademark rights.
The filing became evident with the largest asset, Bitcoin, reclaimed the $100K milestone. Recently, BTC has lost its momentum and fell back to its previous lows. At press time, the asset has moderately gained over 2.10%, trading at $100,493. If the asset steadily builds momentum, it could hit a new all-time high.
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