Coin Cloud Bankruptcy Followed by Hack of Customer Data Under Previous Management
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Bitcoin ATM company Coin Cloud filed for bankruptcy in February 2022. In July, its assets were acquired by Genesis Coin.
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In November 2022, hackers reportedly claimed to have breached Coin Cloud, stealing customer data and photos.
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Genesis Coin investigated but could not determine definitively when the breach occurred or who was responsible.
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Genesis Coin CEO Andrew Barnard believes the breach happened a while ago under previous Coin Cloud management.
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A former Coin Cloud employee said the company was hacked at least once in 2021 and stored customer data in plaintext without encryption.