Through its Twitter page, a cybersecurity firm Under the Breach reported that there may be a possible compromise of databases by hackers obtained through Shopify exploit. According to tweet, the firm noted that the Ethereum forum hacker is now selling databases of Trezor, Ledger, and also BnkToTheFuture.
Both of which obtained from a @Shopify exploit.
(suggesting there are many more underground leaks).
— Under the Breach (@underthebreach) May 24, 2020
It also noted that both hacks were made possible by a Shopify exploit. Besides the two hacks, the firm noted that there may be many more underground leaks. The alert raised a lot of concerns to the digital asset community, as a possible compromise would lead to a huge financial glitch.
Under the Breach is a firm that does data breach monitoring and prevention service, whereby it provides cybercrime investigations and insights. The Israeli based firm reports in details on its website all the cybercrime blogs.
Trezor and Ledger Respond to Under the Breach
Few hours after reporting on that, both Trezor and Ledger replied to Under the Breach through Twitter, claiming their systems are not compromised. The Twitter response read:
“There are rumours spreading that our eshop database has been hacked through a Shopify exploit. Our eshop does not use Shopify, but we are nonetheless investigating the situation. We’ve been also routinely purging old customer records from the database to minimize the possible impact”.
On the other hand, Ledger tweeted:
“Rumors pretend our Shopify database has been hacked through a Shopify exploit. Our eCommerce team is currently checking these allegations by analyzing the so-called hacked DB. We continue investigations and are taking the matter seriously”.
On the Flipside
News publication Decrypt reached out to the Shopify manager who said:
“We investigated these claims and found no evidence to substantiate them, and no evidence of any compromise of Shopify’s system”.
However, since we cannot fully verify if the hacker is selling fake news, the best thing for the account holders is to update the security measures to avoid a possible heist. Digital currency sphere has significantly shifted the financial sector in the past decade, with cryptocurrencies leading the way.
With the value of money shifting to online access, hackers are constantly flexing their capabilities to compromise any system with real value. Facilitated by the Darknet markets, like Dream market, the exchange of information has become very streamlined, giving the authorities a hard time.
In the past, several digital currency exchange hacks have rendered investors huge losses, since there are very few regulations protecting crypto investors. It might be a high time the digital assets institutions partnered with insurance companies to come up with the way forward on consumer protection.
Read more cybersecurity news on Coinspeaker.