by John Smith 
Security breach at CoinMama, 450,000 compromised accounts!
The Israel-based ‘Coinmama‘ cryptocurrency exchange has just reported a security breach in its database, which it estimates has affected the registration of users’ email addresses and passwords, as well as that their distribution in the Dark Net…
After Cryptopia and other crypto exchanges, it is again a cryptocurrency exchange that was hacked via a security breach.
User email addresses and passwords were stolen and apparently sold on the darknet!
Very bad publicity for this little crypto exchange while there have already been other crypto websites that were hacked also not to mention the story of Quadriga and its 190 million dollars in crypto supposedly lost following the death of its founder in India…
This news is very bad for this small exchange in search of new users and that certainly risks losing the reputation it had until now.
What happened?
According to the official statement given by the company’s executives, the flaw in the server could have affected about 450,000 emails and passwords of registered users until August 5, 2017.
This event could well be considered the company’s most serious cyber security incident, affecting more than 24 companies and a total of 747 million user records.
Despite the seriousness of the situation, the security team claims that cybercriminals did not use the data, as there is no evidence that other servers or Coinmama systems were damaged.
Measures taken by Coinmama
The company’s leaders said they had formed a “Preventive Action” team, which would focus on the steps to be taken to solve the problem.
They identified the problem, warned users of what had happened and what needed to be done.
Similarly, they continuously monitored suspicious activities in the Coinmama system and external indicators.
What to do if you are affected by this Coinmama hack?
Coinmama stresses the following measures, if the recorded data are from before August 5, 2017:
If you registered before the specified date, change your password immediately and use another service that uses the same login details (email address and password).
“We sent you an email with more instructions on protecting your account and your data,” Coinmama told its users.
Similarly, they warned of the importance of using a high security key and avoiding suspicious links, compromising emails or links that can be redirected to portals requesting sensitive personal data.
They also report that in the event of a major problem, contact their technical team via their address: privacy@coinmama.com.
It is therefore important to remember not to leave cryptos on exchanges even if in this case it is theft of email address and passwords.
The small cryptos exchanges are to be used with great caution because the security of these crypto exchanges is perhaps not at the top even if large companies are also hacked.
Change your passwords regularly also if you can, do not click on suspicious links in emails or on social networks.
Today, most of data theft is done via phishing and links sent by hackers that people click, so be very careful and erase suspicious emails without clicking anything!
