Gemini Addresses Third Party Data Leakage

03/04/2023 19:38 • Metaverse Matters • 117 views

According to reports, Gemini said in an email sent to customers that the third party data leakage led to phishing activities targeting users in the UK and Europe. It is reported that the fraudster obtained the names, e-mail addresses and/or telephone numbers of some Gemini customers from two third-party suppliers used by Gemini. No account information or system is affected, and all customer accounts are safe. Gemini has informed the Office of the British Information Commissioner and the Irish Data Protection Commission.

Gemini: phishing fraud against European users is caused by data leakage from a third party

Interpret the above information:

Gemini, a popular cryptocurrency exchange, recently informed its customers through an email that there has been a third-party data leakage that has led to phishing activities targeting users in the UK and Europe. According to the email, the fraudster obtained customer names, e-mail addresses, and/or telephone numbers from two third-party suppliers used by Gemini. It is important to note that no customer account information or system has been affected, and all customer accounts remain safe.

Even though no account information or system was affected by this data leakage, it still stresses the importance of safeguarding customer data. As per the email sent to customers, Gemini has addressed the issue by informing the Office of the British Information Commissioner and the Irish Data Protection Commission.

Data breaches have become an all too common issue that organizations face in today’s digital age. The latest attack on Gemini showcases the extent to which fraudulent activities can harm businesses and individuals. Although Gemini has taken the necessary steps to alert the relevant authorities about the incidence, customers should also be vigilant about unexpected emails or messages from unknown senders.

It is worth mentioning that Gemini’s prompt response in addressing the data leakage is laudable. By informing their customers promptly and involving relevant authorities, they have shown a high level of commitment towards their customers’ privacy.

The incident highlights the importance of vigilance, both on the customers’ side and the organizations that handle their data. Businesses need to ensure that the third-party suppliers they engage are trustworthy and can ensure the privacy and security of their customers’ data. This underscores the need for organizations to conduct in-depth security assessments of their third-party suppliers to guard against such incidents.

In conclusion, although the incidence did not affect any customer account information or systems, it is still a reminder that businesses need to do better when dealing with customers’ data. With the increasing reliance on digital systems, businesses need to put in place robust security measures to protect themselves from data breaches. Gemini’s response sets a good precedent for businesses to follow in how to handle such incidences in the future.

References:

https://www.coindesk.com/crypto-exchange-gemini-says-there-was-bitcoin-market-liquidity-issue

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